Duty drawback allowed on helmets export

ISLAMABAD (April 16 2003) : The Central Board of Revenue (CBR) has extended duty drawback facility to the exporters-cum-manufacturers of 'safety helmets' made of fiberglass composite materials from April 10, 2003.

The manufacturers-cum-exporters of safety helmets can avail 5.94 percent of the fob value as repayment of custom duty.

Previously, the duty drawback on helmets was only available to Aysha Enterprise, Lahore.

However, the CBR has standardised the facility to all exporters of the above-mentioned product.

The CBR has included a new schedule LXXII in the SRO 415(I)/2001 through an SRO 337(I)/2003 issued here on Tuesday.

Sources said that the manufacturer-cum-exporters of helmets usually import 16 different types of raw material including gell coat, cobalt etc. The concerned industry would have the opportunity to maximise exports and claim duty drawback as well.

According to another SRO 336(I)/2003, Aysha Enterprise, Lahore, can claim duty drawback (5.94 percent of the fob value) on the export of novelty safety helmets during December 26 2002-April 10, 2003.

Related Articles

Check Also
Back to top button
Stay up to date
Don't miss out on the latest industry news and articles
Stay up to date
Don't miss out on the latest industry news and articles
You are Subscribed!
Your subscriptions means a lot to us.
Don't miss out on the latest Industry news
You are Subscribed!