The Federal Board of Revenue (FBR) has abolished 25 percent regulatory duty on the export of waste and scrap of copper and other specified items produced from material imported under the duties and tax remission for export (DTRE) scheme and manufacturing bonds scheme. The FBR has amended SRO 645(1)/2018, dated the 24th May 2018 through an SRO 192(1)/2019 here on Tuesday.
The FBR will not charge 25 percent regulatory duty on the export of waste and scrap of copper, unwrought lead, ferrous and non-ferrous waste of scrap of lead, lead plates/sheets/strip/foil/lead powers and flakes and lead bars, rods profiles and wire produced from material imported under the facility of DTRE, as provided under subchapter 7 of Chapter XII of the Customs Rules, 2001, or the manufacturing bonds scheme as licensed under Chapter XV of the said Rules.
Under the SRO 645(1)/2018, the FBR had imposed RD on the export of certain items including molasses and raw and wet blue hides and skins up to June 30, 2019.
Following is the text of the SRO 192(1)/2019 issued here on Tuesday:- In exercise of the powers conferred by sub-section (3) of section 18 of the Customs Act, 1969 (IV of 1969), the federal government is pleased to direct that the following further amendment shall be made in its notification # SRO 645(1)/2018, dated the 24th May, 2018, namely:-
In the aforesaid notification, after Table-I, the following proviso shall be added, namely:-
"Provided that no regulatory duty shall be levied on export of goods against S No 3, 4, 5, 6 and 7 produced from material imported under the facility of DTRE, as provided under subchapter 7 of Chapter XII of the Customs Rules, 2001, or the manufacturing bonds scheme as licensed under Chapter XV of the said Rules."