15-25pc RD will continue to be charged on 8 items
recorder report
ISLAMABAD: The Federal Board of Revenue (FBR) will continue to charge regulatory duty between 15 to 25 percent on the export of eight items and regulatory duty on export of High Speed Diesel (HSD) and Superior Kerosene Oil (SKO) to Afghanistan from July 1, 2019.
The FBR has amended SRO.645(I)/2018 through an SRO.675(I)/2019 issued here on Tuesday.
Through SRO.645(I)/2018, the FBR had imposed RD on the export of these items till June 30, 2018. Now, under an amendment in the SRO.645(I)/2018, the FBR has now extended imposition of RD beyond June 30, 2018.
According to the FBR, the export of molasses has been subjected to 15% RD; raw and Wet Blue Hides and Skins, 20%; waste and scrap of Copper, 25%; unwrought lead, 25%; ferrous and non-ferrous waste and scrap of lead, 25%; lead plates, sheets strip and foil; lead powders and flakes, 25% and waste and scrap of primary cells, primary batteries and electric accumulators, spent primary cells, spent primary batteries and electric accumulators, electrical parts of machinery or apparatus, or specified or included in Chapter 85 of Pakistan Customs Tariff has been subjected to 25 percent RD.
Regulatory duty equivalent to the Price Differential Claims (PDC), in Rupees per liter, of High Speed Diesel (HSD) and Superior Kerosene Oil (SKO) as notified by the Ministry of Petroleum and Natural Resources, plus 1% of prevalent consumer price to cover for foreign exchange loss, shall be levied on export of HSD and SKO to Afghanistan as per rates given: PDC on HSD and SKO with effect from 16.10.2008, HSD (Rs 0/liter), SKO (Rs 0/Liter); 1% coverage for exchange loss on consumer price effective 16.10.2008, HSD (Rs 0.68/Liter), SKO (Rs 0.62/Liter) and total HSD (Rs 0.68/Liter) and SKO (Rs 0.62/liter).
The rates given shall remain in force till an amendment is made by the Ministry of Petroleum and Natural Resources on the basis of their calculations. The exports of HSD and SKO made to Afghanistan shall be contingent upon strict adherence to the procedure, terms and conditions laid down in the Export Policy Order for the time being in force, FBR added.
