Customs values of pet food categorized
KARACHI: Directorate General of Customs Valuation has amended the Valuation Ruling No.977/2016 and added two more region wise categories of pet food in the Ruling. The commercial importer M/s Aamena...
View ArticleForeign Direct Investment surges 10 percent
KARACHI: Foreign direct investment in Pakistan has surged by 10 percent to $1.080 billion primarily on the back of flows from China under China Pakistan Economic Corridor (CPEC), State Bank of Pakistan...
View ArticleSHC allows release of imported pencils
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Yousuf Ali Sayeed on Monday ordered provisional release of two separate consignments of pencils...
View ArticleSHC defers hearing in petition seeking security money
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Yousuf Ali Sayeed on Monday deferred the order in an application moved by Adamjee Pharmaceuticals....
View ArticlePakistan stocks tumble over Panama case hearing
KARACHI: Pakistan stocks exchange witnessed a volatile session on Tuesday with profit taking being the day’s highlight on political uncertainty, dealers said. Ahsan Mehanti at Arif Habib Corp in an...
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Customs values of Euro cake revised
KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has revised the customs values of Euro Cake and accordingly amended the Valuation Ruling No.946/2016. M/s Fair Marketing Pakistan...
View ArticleSHC decrees suit, order release of Generators
KARACHI: Justice Salahuddin Panhwar of High Court of Sindh (SHC) deciding a suit 37/2017 ordered release of the a consignment of electric generators. The suit was filed by Siddiq Sons through Franklin...
View ArticleExplanation cannot be effective retrospectively, rules SHC
KARACHI: An Income Tax Appellate bench of High Court of Sindh headed by Justice Aqeel Ahmed Abbasi deciding two identical Income Tax Reference Applications (ITRA 272 & 273 of 2011) held that...
View ArticleGovernment convinced to eliminate under-invoicing, smuggling
KARACHI: The post clearance audit (PCA) has initiated recovery of revenue which was evaded through under-invoicing, which heralds a larger policy wherein government would ensure plugging of revenue...
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Customs values of dates revised
KARACHI: Directorate of Customs Valuation has revised the customs values of dates vide Valuation ruling No.1014/2017. Customs values of dates were earlier determined vide valuation ruling No.501/2012....
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Postings of probationary Assistant Collectors notified
KARACHI: Federal Board of Revenue (FBR) has notified postings of probationary Assistant Collectors of BS-17 of 43rd CTP. These officers would assume their offices after completion of specialized...
View ArticlePakistan stocks close in red
KARACHI: Pakistan equities closed another session in red on Wednesday with benchmark KSE-100 Index witnessing wild swings in a near 500-point-range in the absence of triggers, dealers said. “A brief...
View ArticleJuicer/blender parts classifiable under PCT 8509.4010
KARACHI: Chairman Classification Committee Additional Collector Haris Ansari has determined that juicer/blender main body (parts) is appropriately classifiable under PCT 8509.4010. MCC Appraisement...
View ArticleChairman FBR Nisar Mohammad Khan retires, next to be announced on January 25th
KARACHI: Member FBR Dr. Irshad has assumed the look after charge of the office of Chairman Federal Board of Revenue (FBR) as Nisar Mohammad Khan has retired on January 18, 2017. The announcement for...
View ArticleHigh court orders release of soap consignment:
Karachi: A division bench of Sindh high court on Wednesday ordered provisional release of soap consignment. The bench was hearing a petition filed by B.M. Traders which imported soap raw material....
View ArticlePSO outlets across country to have ATMs
KARACHI: Pakistan State Oil (PSO) and Allied Bank Limited (ABL) have signed an agreement to facilitate deployment of ABL ATMs at PSO stations nationwide, a statement said on Thursday. Under this...
View ArticleCustoms values of glycerin revised
KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has revised the customs values of Glycerin at $695/MT and amended the Valuation Ruling No.937/2016. M/s Nimir Chemical Pakistan Limited...
View ArticlePetition seeking revision in values of valves rejected
KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has rejected a petition seeking revision in the customs values of Valves determined vide Valuation Ruling No.907/2016. M/s Hameed &...
View ArticlePrincipal appraisers likely to be assigned assessment of imported consignments
KARACHI: As many as 16 Appraisers and Principal Appraisers are retiring in the year 2017 while 29 appraisers and assistant private secretaries have been promoted as Principal Appraisers, which would...
View ArticleCustoms values of sauces revised
KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has revised the customs values of sauces and accordingly amended the Valuation Ruling No.952/2016. M/s Al-Nafay Traders and other stated...
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