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Rebate allowed on snacks export

ISLAMABAD (October 29 2003): The Central Board of Revenue (CBR) has given duty drawback on the export of snacks from October 27, 2003.

The duty drawback would be admissible on vermicelli, spaghetti, macaroni, potato-chips and almonds fried and salted.

The CBR has amended standard SRO.415(I)/2001 through two notifications issued here on Tuesday.

The duty drawback would be 3.92 percent of the fob value on the export of potato chips; 0.71 percent of the fob value on almonds (fried and salted); 2.78 percent of the fob value on dal moong (fried and salted); 2.23 percent of the fob value on nimko mix; 2.28 percent of the fob value on peanuts (fried and salted) and duty drawback would be 5.84 percent of the fob value on 'com extruded snacks'.

According to another notification, duty drawback on the export of vermicelli would be Re 0.12 per packet of 200 grams or 2.34 percent of the fob value, whichever is less; spaghetti, Re 0.24 per packet of 500 grams or 2.11 percent of the fob value, whichever is less; and duty drawback on the export of macaroni would be Re 0.24 per packet of 400 grams or 2.34 percent of the fob value, whichever is less.

The repayment of duty would be allowed after showing documents pertaining to imported raw material.

The CBR has used powers conferred by clause (c) of section 21 of the Customs Act, 1969 to implement the decision.

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