ISLAMABAD (June 21 2006): The government has given exemption of customs duty on imports of raw materials, sub-components, sub-assemblies, components and assemblies (not manufactured locally) and used in the manufacture of prime movers including 'road tractors for semi-trailers and trailers of 280 HP and above'.
The Board has amended SRO 543(I)/2004 through SRO 632(I)/2006 issued on Tuesday.
The reduced rate of 10 percent customs duty would be applicable on import of components used in the local manufacture of 'other tractors'.
The CBR will charge concessional rate of 10 percent customs duty on the import of components used in the local manufacture of vehicles of Gross Vehicle Weight (GVW) exceeding 5 tons falling under Pakistan Customs Tariff (PCT) heading 87.04, whereas on import of such vehicle (not exceeding 5 tons) components concessionary rate of customs duty would be 20 percent.
The concessionary rate of 20 percent customs duty would be applicable on the import of components used in the manufacture of vehicles of GVW not exceeding 5 tons falling under PCT heading 87.04.
Meanwhile, the Board has also notified concessional rate of 5 percent customs duty for import of certain equipment used by the broadcasting companies.
According to SRO 633(I)/2006, the concessional rate of 5 percent customs duty would be applicable on the import of 'other instruments and apparatus' covered under PCT heading 9027.8000. The concession would be available on the imports made by the broadcasting companies duly licensed by the Ministry of Information and Broadcasting.
The broadcasting companies are also entitled to import cards incorporating an integrated electric circuit (smart cards) at the rate of 5 percent customs duty. The levy would also be applicable on the import of 'other remote controls' covered under PCT heading 8529.9090.
The minimum 5 percent duty would be applicable on import of modems (PCT heading 8525.2030).