Two percent surcharge on imports cleared up to March 31 waived

ISLAMABAD (March 25 2003) : To facilitate the importers, the Central Board of Revenue (CBR) has waived-off two percent penal surcharge on the imported goods for bonded warehouses cleared between March 22-31, 2003.

Presently, a number of consignments were lying un-cleared at various custom warehouses across the country and CBR has given concession of penal surcharge on goods to be cleared up to March 31, 2003.

In this regard, the CBR has issued SRO (I)/2003 here on Monday.

According to the SRO, the authorities have used section 98 of the Custom Act, 1969 to extend the clearance date up to March 31, 2003.

Sources said that cumbersome clearance procedure of imported goods from the local warehouses take some time for completion of the formalities and concerned officials have given permission of removal of goods from such warehouses without imposition of penalty.

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