The Federal Board of Revenue (FBR) will not issue customs notifications to abolish/reduce customs duties, regulatory duties, and Additional Customs duties (ACDs) on imported goods as announced in the budget (2023-24).
The FBR has issued customs budget notifications (2023-24) to raise RDs/ACDs on certain items, but many import tariff relief measures and abolition and reduction in import duties announced in the budget (2023-24) are not part of the notification issued by the FBR.
In budget (2023-24), the FBR has abolished regulatory duties on a wide range of items including synthetic filament yarn of polyester and second-hand clothing.
The FBR’s budget implementation notifications do not reflect a reduction in RDs/additional customs duties from July 1, 2023.
According to S.R.O. 775(1)/2023, 5 percent RD has been imposed on the import of Calcium (Carbides).
The RD at the rate of 10 percent would be applicable on the import of chloroparaffin liquid till December 2023 and 5 percent RD from January 1, 2024 to June 30, 2024.
The 10 percent RD has been subjected to the tubes of other glass having a 10″; linear coefficient of expansion not exceeding 5 x 10-6 per Kelvin within a temperature of 0°C to 300°C.
The RD at the rate of 15 percent would be applicable on the import of glass of heading 70.03, 15 70.04 or 70.05, bent, edgeworked, engraved, drilled, enameled or otherwise worked, but not framed or fitted with other materials (except 7006.0020).
The 30 percent RD would be applicable on the import of glass sheet worked.
The RD at the rate of 15 percent would be applicable on the import of glassware of a kind used for table, kitchen, toilet, office, indoor decoration or similar purposes (other than that of heading 70.10 or 70.18) (except PCT codes 7013.4900, 7013.9100, 7013.9900).
The 20 percent RD would be applicable on the import of Tungsten filament incandescent bulbs and parts of tungsten filament incandescent bulbs.
The FBR has also revised additional customs duties on the import of different items. Through S.R.O.771(1)/2023, the FBR has amended S.RO 693(1)/2006 relating to the ADC.
The FBR has revised ACDs on the import of different components of the vehicles under S.R.O.771(1)/2023.
The ACDs would be applicable on the import of weather strips for doors, glass and luggage compartments for vehicles, water hoses for engine cooling systems and heaters, air cleaner hoses, and Brake oil reservoir hoses for vehicles of heading 87.03 and other types of vehicles specified in the notification.
Laziness and miscommunication at its peak.