The Federal Board of Revenue has waived off a penal surcharge on the clearance of goods from warehouses within a 30-day period.
It has issued SRO 899(I)/2021 to remit the penal surcharge. However, the decision is not applicable to the goods that have since been abandoned or auctioned under the Customs Act, 1969.
According to the SRO 899(I)/2021, in the exercise of the powers conferred by sub-sections (2) and (3) of Section 98 of the Customs Act, 1969 (IV of 1969), the federal government remits the penal surcharge in the case of goods that are cleared from the warehouse within 30 days from the date of the commencement of the SRO notification, and extends the existing warehousing period of the already in-bonded goods for another thirty days from the date of commencement of the notification.
The Federal Board of Revenue (FBR) added that this notification is not applicable to the goods that have since been abandoned or auctioned under the Customs Act, 1969 (IV of 1969) and the rules made thereunder.