KARACHI: The collector of customs has been empowered to allow provisional release of imported goods, on which any offence is detected, against duty and payment and submission of bank guarantee for penalty amount.
The Federal Board of Revenue (FBR) issued Customs Act, 1969 updated till June 30, 2019 incorporating the changes brought through Finance Act, 2019.
According to the Customs Act, 1969, where any offence is detected in respect of imported goods which are not liable to confiscation or needed for evidence at a later stage, the Collector of Customs may, on written request of owner of the goods, allow release of the same on payment of duty, taxes or other charges and furnishing bank guarantee or pay order against the amount of any penalty or fine which may be imposed on such goods.
The FBR also explained the clearance for home consumption under Section 83 of the Act.
It said that when the owner of any goods entered for home-consumption and assessed under section 80 or 81 has paid the import duty and other charges, if any, in respect of the same the appropriate officer, if he is satisfied that the import of the goods is not prohibited or in breach of any restrictions or conditions applying to the import of such goods, may make an order for the clearance of the same:
Provided that, at customs-stations where the Customs Computerized System is operational the system may clear the goods through system generated clearance documents.
(2) Where the owner fails to pay import duty and other charges within ten days from the date on which the same has been assessed under sections 80, or 81, he shall be liable to pay surcharge at the rate of KIBOR plus three percent on import duty and other charges payable on such goods.