Customs recover over Rs1.0 billion worth of regulatory duty
KARACHI: Revenue of over a billion rupees is realized, as the Supreme Court of Pakistan has dismissed the ‘leave to appeal’ application of 121 importers seeking stay against the encashment of bank...
View ArticleM/s KICT penalized for availing inadmissible concessions through mis-declaration
KARACHI: Collector Adjudication Fareed Iqbal Qureshi has imposed penalty of Rs1.0 million each in two different orders on M/s Karachi International Container Terminal (KICT) for availing inadmissible...
View ArticleFull attendance ordered: FBR restricts leave prior to or after Eid holidays
KARACHI: The Federal Board of Revenue (FBR) has instructed all heads of field formations both Inland Revenue and Customs to ensure full attendance prior to or after the Eid-ul-Azha holidays declared by...
View ArticleASO of MCC Preventive cracks down pumps selling smuggled fuel
KARACHI: The MCC Preventive Karachi has launched an opaeration against fuel stations selling smuggled goods and confiscated smuggled fuel worth millions of rupees. On the directives of Collector...
View ArticleFBR plans ‘Operation Desert’ targeting money-laundering and black money
KARACHI: The Directorate of Intelligence & Investigation – Inland Revenue has planned a special clandestine operation with code named ‘Operation Desert’ against the transfer of black money from...
View ArticlePharama importers’ names placed in Exit Control List
KARACHI: Three major importers of pharmaceutical material have been barred from leaving the country, as their names are included in Exit Control List on the request of Customs authorities. Ali...
View ArticleSHC holds Bonus Shares to be taxable, dismisses seven suits
KARACHI: A bench of High Court of Sindh (SHC) deciding a number of suits challenging the levy of income tax on “Bonus shares“ dismissed the same holding that bonus shares are also taxable. Justice...
View ArticleWeBOC module prepared to facilitate transit trade through railways
KARACHI: M/s PRAL (Pvt) Ltd has developed the WeBOC Module for transit of cargo through railway in consultation with Directorate of Reforms & Automation. Sources said the subject module is in...
View ArticleClearance of 40 US Army containers blocked; pilferage suspected
KARACHI: Directorate of Transit Trade (ATT) has blocked the clearance of 40 containers containing steel matting of US military reverse cargo as there were discrepancies in weight measured at...
View ArticleCustoms values of plastic household items fixed
KARACHI: The Director General of Customs Valuation has determined the import values of plastic household items vide Valuation Ruling No. 763/2015. The Directorate General had issued Valuation Ruling...
View ArticleMachinery importer slapped fines and penalties for mis-declaration
KARACHI: The Collector Custom Adjudication Javed Chodry has ordered confiscation of Concrete or Mortar Mixer as the importer firm M/s A.M Associates attempted to evade duty/taxes through mis-declaring...
View ArticleSHC orders provisional release of rubber consignment
KARACHI: High Court of Sindh (SHC) on Tuesday ordered release of a consignment of Acrytonrile Butadiene Rubber (NBR) if the importer deposits differential amount of custom duty in the form of a pay...
View ArticleSHC summons Customs officers to justify impounding of vehicle
KARACHI: The Chairman Federal Board of Revenue (FBR), Collector of Customs and Appellate Tribunal have been put on notice for September 29, 2015 by High Court of Sindh to justify impounding of vehicle....
View ArticleCustoms Adjudication penalizes computer parts importer
KARACHI: Customs Adjudication has penalized M/s S.K Enterprises for attempting to evade legitimate government revenue through mis-declaring the value of their import consignment of computer parts....
View ArticleRegulatory duty on import of iron and steel products stays, rules Supreme Court
KARACHI: Supreme Court of Pakistan has dismissed the ‘leave to appeal’ application of 121 importers seeking stay against the encashment of bank guarantees submitted by them against provisional release...
View ArticleMany FBR officers/officials deprived of enjoying Eid with their families
KARACHI: A number of Federal Board of Revenue (FBR) employees and officers particularly those belonging to Punjab and KPK had to cancel their flights and train reservations and some would not be able...
View ArticleUp-gradation of BS-16 officers; Cabinet Division returns FBR’s summary...
KARACHI: The Cabinet Division has returned the summary forwarded by Federal Board of Revenue (FBR) suggesting up-gradation of senior BPS-16 officers of Customs into BPS-17 and market several anomalies....
View ArticleFBR directed to decide representation by Jamshoro and Lakhra power within a week
KARACHI: The Federal Board of Revenue (FBR) was directed by a division bench of High Court of Sindh (SHC) on Monday to decide the representations made by public (government) sector Independent Power...
View ArticleLack of technological knowledge among customs officials enabling revenue evasion
KARACHI: Pakistan Customs is out of expertise and experts to determine the appropriate classifications of chemicals, advanced machinery and technological gadgets. It may be mentioned here that the...
View ArticleMember Customs visit Karachi to finalize transfers & postings in South region
KARACHI: Member Customs Nisar Mohammad Khan visited Customs House Karachi on Monday had discussions with Chief Collectors, Collectors and Directors pertaining to the transfers and postings of BS-17 and...
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