Home » News » Finance » Drawback allowed on electric bells, raised on lycra fabrics

Drawback allowed on electric bells, raised on lycra fabrics

ISLAMABAD (December 05 2002) : While permitting duty drawback on the export of electric/mechanical doorbells, telephone ringers and voice enhancing unit, the Central Board of Revenue (CBR) has also revised duty drawback rates on the export of six types of stretch fabrics made from lycra or spandex.

The facility would be available to the exporters of bells from November 30, 2002, while textile sector could claim duty drawback on the export of stretch fabrics from December 4, 2002.

The tax authorities have issued two different notifications SRO 855(I)/2002 and SRO.881(I)/2002 amending standard SRO.412 and SRO.414 for engineering and textile sectors respectively.

The extent of repayment would be Re 0.69 per kilogram on the export of stretch fabrics made from lycra or spandex (1% to 1.5% lycra of total fabric weight); Rs 1.04 per kilogram on stretch fabrics made from lycra or spandex (1.51% to 2.30% lycra of total fabric weight); Rs 1.50 per kilogram on stretch fabrics made from lycra or spandex (2.51% to 3.50% lycra of total fabric weight); Rs 1.97 per kilogram on stretch fabrics made from lycra or spandex (3.51% to 4.50% lycra of total fabric weight); Rs 2.43 per kilogram on stretch fabrics made from lycra or spandex (4.51% to 5.50% lycra of total fabric weight) and repayment of duty would be Rs 2.90 per kilogram on the export of stretch fabrics made from lycra or spandex (5.51% to 6.50% lycra of total fabric weight);

Similarly, the extent of repayment would be Rs 2.06 per bell on the export of electric doorbells, Rs 1.08 per bell on mechanical doorbells and Rs 3.09 per unit on the export of telephone ringer with flasher (voice enhancing unit).

According to another SRO 858(I)/2002, the CBR has allowed duty drawback on the export of composite BOPP films and pearlised BOPP film by M/s Tri Pack Films, Islamabad.

The repayment would be 9.79 per cent of the fob value on the export of composite BOPP films and 8.81 per cent of the fob value on the export of pearlized BOPP film. The raw materials include homopolymer, copolymer, antistatic-FASPS 2950 and pearl PF97N.

The authorities have also permitted duty drawback on the export of various types of detergents exported by Unilver Pakistan Limited under SRO 868(I)/2002.

The repayment of duty would be Re 0.7 per kilogram on the export of wheel detergent powder, Rs 21.38 per kilogram on packaging material of detergent powder 40-gram sachets exported from July 1, 2002.

Meanwhile, the department has rescinded twelve individual duty drawback notifications belonging to different industries. These notifications are SRO 894(I)/97, SRO 907(I)/97, SRO 1356(I)/98, SRO 1017(I)/97, SRO 923(I)/96, SRO 799(I)/97, SRO 884(I)/97, SRO 908(I)/97, SRO 811(I)/97, SRO 831(I)/97, SRO 933(I)/97 and SRO 906(I)/97.

Leave a Reply

Stay Updated with Accountancy

Get the latest accounting news and articles sent directly to your inbox

This information will never be shared with any third party.