ISLAMABAD (March 22 2003) : The Central Board of Revenue (CBR) has given duty drawback facility to the cosmetics units engaged in manufacture-cum-export of creams.
The CBR has included a new schedule in the standard SRO 415 (I)/2001 through an SRO (I)/2003 issued here on Friday.
The duty drawback would be 2.7 percent of the fob value on the export of hair removing cream.
The cosmetics sector was persistently demanding of the tax authorities to standardise certain products through amendment in relevant notification dealing with miscellaneous items.
As per procedure, the manufactured goods should be exported and an application for repayment of duty be presented to the Customs officer within 210 days of such exportation or within 180 days from the date of realisation of foreign exchange as shown on bank credit advice (BCA) issued in accordance with the current directive of the State Bank of Pakistan (SBP).
The exporters would make a declaration on the face of the original shipping bill and on other export documents to the effect that he would claim repayment of the Customs duty paid on the imported raw materials used in the production or manufacture of the goods being exported.