Home / Knowledge / News / Textiles / Zero customs duty on polyethylene & polypropylene imports
Zero customs duty on polyethylene & polypropylene imports
29
Jun '11
A relief has been announced in customs duty on import of certain class of polyethylene and polypropylene, used in the production of mono-filament yarn and net fabric, by the Pakistan's Federal Board of Revenue (FBR).

The FBR has also amended its Form I and Form II in accordance with SRO 811(I)/2009 to allow customs duty exemption for these items. However, such exemption would be allowed subject to the condition that the producer is duly registered and has in-house production facilities and supplies net fabric to green house farming at zero sales tax.

The notification specifies that in order to avail the relief, the importer-cum-producer will have to submit a Goods Declaration in a prescribed format providing all requisite details regarding the imported raw materials to get the clearance.

After proper verification regarding correctness of the Declaration, the Collector of Customs will grant clearance to the imported raw material, but after collecting post-dated cheques for the differential sum in respect of concessionary and statutory sales tax and customs duty.

The notification stated that a registered producer-cum-importer with appropriate in-house facilities should furnish details regarding his total requirement and yearly consumption of the two items needed for the production of net cloth and mono-filament yarn.

The details of input/output ratios should be submitted to the Collector of Sales Tax and Federal Excise, having jurisdiction, or to any other institution or person authorised by the FBR.

While accepting the declaration, the Collector or other concerned authority would assess the producer's annual requirement of the input materials.

Sometimes, the input-output ratio furnished by the producer may fail to satisfy the Collector or the concerned authority due it not being in line with the normal average of the concerned industry or for any other reason.

In such cases, the authority may allow a reasonable provisional quantity and then refer the matter to the Engineering Development Board or Input-Output Coefficient Organisation (IOCO) or any other recognised authority for final assessment and determination.

On receiving the report, the Collector or the authorised person shall decide on the final quantity of inputs that should be allowed for annual consumption and the applicant has to carry out production by importing the permitted quantity of inputs.

Only a single port or dry port will be allowed to grant clearance to such imports. The port would maintain a centralised record regarding the release of the quota for which the Provisional or Final Certificate is issued.

The notification even stated that the producer-cum-importer should within 60 days of consumption of the imported inputs intimate the Collector of Sales Tax and Collector of Customs regarding the same in writing. The authorities, on receipt of such confirmation, would either release or cancel the post-dated cheques which were obtained as security.

If the imported lot is not consumed within a year from the date of import, the importer would be liable to pay sales tax as applicable or will have to obtain Collector of Sales Tax and Federal Excise's permission for extension of the time-period for using the imported items.

Permission to grant extension of the period, not in excess of 90 days, could be sought from the Collector of Customs by citing valid reasons.

Fibre2fashion News Desk - India


Must ReadView All

Textiles minister Smriti Irani (5th from left), Finance minister Piyush Goyal (5th from right) and others. Courtesy: AEPC

Apparel/Garments | On 28th May 2018

Bring early resolution to issues of apparel industry: AEPC

The Apparel Export Promotion Council (AEPC) has urged the Union...

Surat textile traders urge PM to analyse impact of GST

Textiles | On 28th May 2018

Surat textile traders urge PM to analyse impact of GST

Textile traders from the man-made fabric hub of Surat have urged...

Karnataka garment workers seek minimum wage hike

Apparel/Garments | On 28th May 2018

Karnataka garment workers seek minimum wage hike

Garment workers in Karnataka are demanding that the newly formed HD...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search