S.R.O. 1065(I)/2005, Islamabad, the 20th October, 2005

SROS: S.R.O. 1065(I)/2005, Islamabad, the 20th October, 2005 S.R.O. 1065(I)/2005, Islamabad, the 20th October, 2005:- In exercise of the powers conferred by section 19 of the Customs Act, 1969(IV of 1969), and sub-section(2) of section 13 of the Sales Tax Act, 1990, and in super-session of its Notification No. S.R.O. 410(I)/2001, dated the 18th June, 2001, the Federal Government is pleased to exempt the whole of the customs duty and sales tax on temporary importation of goods for subsequent exportation as specified in the Table below subject to the following conditions, namely: (i) this facility shall be available to exporters also registered as manufacturers; (ii) the importer shall make an application for grant of exemption to the Collector of Customs, giving full particulars of the goods and the purpose for which they are imported; (iii) the importer shall submit a bank guarantee or pay order or indemnity bond along with post-dated cheque equivalent to the amount of customs-duty and sales tax otherwise leviable thereon; (iv) the importer shall export temporarily imported goods after due processing thereof within eighteen months of their import. On a request from the importer, the Collector concerned shall allow extension for six months on payment of one per cent surcharge per month on C F value of the goods for which extension has been sought. The Board may consider any further extension in exceptional circumstances on such terms and conditions as may be deemed appropriate in the matter; (v) only such goods, except the goods specified at serial No.2 of the Table, as are capable of identification at the time of their re-exportation, shall be exempt from the aforesaid customs duty and sales tax; (vi) packing material, as mentioned in the Table at serial No.10, may be imported empty and may be exported filled; (vii) at the time of importation of goods, the importer shall make a written declaration on the goods declaration to the effect that the goods are imported for the purposes of this notification; (viii) after ascertaining correctness of description, classification and import ability status of goods at the time of import, the same shall be assessed to value…