ISLAMABAD (February 07 2003) : As the Central Board of Revenue (CBR) has given final touches to the amendments in the Duty and Tax Remission for Export (DTRE) Rules, the tax authorities would anytime suspend the temporary concession of duty-free import under the expired SRO 410.
SRO 410 expired on December 31, 2002, but the CBR permitted the collectors of Customs to continue duty-free import of raw materials used in the finished products to be exported.
However, no formal amendment or written instructions were issued to the collectorates.
The concerned authorities told Business Recorder on Thursday that it has not been finalised that at exactly what time the concession would be withdrawn, but on notification of the proposed amendments in the DTRE scheme, the provisions of already expired SRO would be suspended.
Sources said the CBR would either issue a directive to the collectorates or verbally communicate the decision, but the exporters should be ready to come in the DTRE scheme.
After the withdrawal of SRO 410, the Customs at ports, etc, would stop the duty-free import of raw materials under the provisions of this favourite notification of the business community.
The CBR officials have recently confirmed in Lahore that SRO 410 has to go after removal of anomalies from the DTRE scheme.