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Tariff Concession on 313 Items From Indonesia Notified
Tariff Concession on 313 Items From Indonesia Notified
05/09/2013 (Business Recorder) - The Federal Board of Revenue has notified tariff concession on the import of 313 items from Indonesia - crude oil, RBD palm oil, palm olein and palm stearin with effect from September 1, 2013 under Indonesia-Pakistan Preferential Trade Agreement. Sources told Business Recorder here on Wednesday that the Indonesia-Pakistan Preferential Trade Agreement has allowed concessionary rate of customs duty on the import of 313 items from Indonesia.
The SRO.741(I)/2013 pertaining to the import from Indonesia has become applicable from September 1, 2013 for reduced rate of customs duty on the import of 313 items. The concessionary rate of customs duty would also be applicable on the import of coffee, green tea, crude oil of palm kernel, maple sugar, cocoa beans, pineapples, formic acid, varnishes, tooth paste, palm acid oil, wood wool, denim, laser printers, tube lamps and other items specified in the SRO.741(I)/2013.
According to the notification, in exercise of the powers conferred by section 19 of the Customs Act 1969 read with section 18C thereof the Federal Government has exempted with effect from September 1, 2013 the import into Pakistan from Indonesia of the goods specified, falling under the heading and sub-headings of the First Schedule to the Customs Act from so much of the customs-duty as is in excess of the specified rates.
Provided that in case toe rate of customs-duty specified is higher than the rate of customs-duty specified in the First Schedule to the said Customs Act the lower rate of customs-duty shall be applicable. Provided further that the goods shall be imported in conformity with the Indonesia-Pakistan Preferential Trade Agreement Rules of Origin, 2012 notified by the Ministry of Commerce vide Notification SRO 1485(1)/2012 dated 22nd December 2012, read with the Import Policy Order as notified by the Ministry of Commerce, from time to time.
The SRO.741(I)/2013 pertaining to the import from Indonesia has become applicable from September 1, 2013 for reduced rate of customs duty on the import of 313 items. The concessionary rate of customs duty would also be applicable on the import of coffee, green tea, crude oil of palm kernel, maple sugar, cocoa beans, pineapples, formic acid, varnishes, tooth paste, palm acid oil, wood wool, denim, laser printers, tube lamps and other items specified in the SRO.741(I)/2013.
According to the notification, in exercise of the powers conferred by section 19 of the Customs Act 1969 read with section 18C thereof the Federal Government has exempted with effect from September 1, 2013 the import into Pakistan from Indonesia of the goods specified, falling under the heading and sub-headings of the First Schedule to the Customs Act from so much of the customs-duty as is in excess of the specified rates.
Provided that in case toe rate of customs-duty specified is higher than the rate of customs-duty specified in the First Schedule to the said Customs Act the lower rate of customs-duty shall be applicable. Provided further that the goods shall be imported in conformity with the Indonesia-Pakistan Preferential Trade Agreement Rules of Origin, 2012 notified by the Ministry of Commerce vide Notification SRO 1485(1)/2012 dated 22nd December 2012, read with the Import Policy Order as notified by the Ministry of Commerce, from time to time.