ISLAMABAD (November 03 2006): The Central Board of Revenue (CBR) has restored rebate of federal excise duty (FED) and refund of sales tax on the cement export via land, air or sea route from November 1, 2006. The CBR on Thursday issued two notifications to implement the decision.
Through an SRO.1086(I)/2006, the board has rescinded SRO.391(I)/2006 of April 27, 2006, with immediate effect. Under the rescinded notification, no refund of tax accrued in connection with the cement export falling under PCT heading: 25.23, was allowed if the cement is exported out of Pakistan via land, air or sea route.
Under SRO.1085(I)/2006, the CBR has rescinded SRO.390(I)/2006 of April 27, 2006, with immediate effect. As per rescinded notification, the board had disallowed the adjustment or rebate of excise duty accrued in connection with export of cement falling under PCT heading: 25.23, out of Pakistan via land, air or sea routes.