ISLAMABAD: Federal Board of Revenue (FBR) has imposed restriction on selling the duty free imported goods for machinery and motor vehicles for Thar coal field.
In order to impose restrictions the FBR on Saturday issued SRO 673(I)/2019 to amend SRO 268(I)/2015 dated April 02, 2015.
The FBR allowed exemption from whole of customs duty on import of coal mining equipment and machinery including vehicles for site use, if not manufactured locally, imported for Thar Coal Field.
Through the latest SRO, the FBR said that the goods shall not be sold or otherwise disposed of without prior approval of the FBR.
“In case such goods are sold or otherwise disposed of after ten years of importation thereof, the same shall be subject to payment of duties and taxes as prescribed by the FBR.”
In case these goods are sold or otherwise disposed of without prior approval of the FBR or before the period of ten years from the date of importation thereof, the same shall be subject to payment of statutory rates of duties and taxes as were applicable at the time of import.
“These goods shall, however, be allowed to be transferred to the other entitled projects of the sector, with prior approval of the FBR, subject to payment of duties and taxes, if applicable.”
The re-export of these goods may also be allowed subject to prior approval of the Chief Collector of Customs.