Income Tax Ordinance, 2001

CHAPTER-X

PROCEDURE PART V ADVANCE TAX AND DEDUCTION OF TAX AT SOURCE Division II Advance Tax Paid to a Collection Agent

From: 2023-07-01 - To: 0000-00-00 148. Imports.- (1) The Collector of Customs shall collect advance tax from every importer of goods on the value of the goods at the rate specified in Part II of the First Schedule 1[in respect of goods classified in Parts I to III of the Twelfth Schedule] 2[: and] 2[Provided that the Board may, by a notification in the official Gazette, add in the Twelfth Schedule any entry thereto or omit any entry therefrom or amend any entry therein: Provided further that in case of goods classified under Part III of the Twelfth Schedule which are used both as raw material and finished goods, the Board may, by notification in the official Gazette, specify that goods imported by a person or class of persons as raw material for its own use shall be treated as classified under Part II of the Twelfth Schedule, subject to such conditions and procedure as may be prescribed.] 3[***] 4[(2A) Notwithstanding omission of sub-section (2) any notification issued under the said sub-section and for the time being in force, shall continue to remain in force, unless 5[amended or] rescinded by the Board through notification in the official Gazette.] 6[***] 7[***] 8[***] (5) Advance tax shall be collected in the same manner and at the same time as the customs-duty payable in respect of the import or, if the goods are exempt from customs-duty, at the time customs-duty would be payable if the goods were dutiable. (6) The provisions of the Customs Act, 1969 (IV of 1969), in so far as relevant, shall apply to the collection of tax under this section. 9[(7) The tax 10[required to be] collected under this section shall be 11[minimum] tax 12[ 13[***]] on the income of the importer arising from the imports subject to sub-section (1) and this sub-section shall not apply in the case of import of 14[goods on which tax is required to be collected under this section 15[***] by an industrial undertaking for its own use.] 16[***] 17[(7A) Notwithstanding anything contained in sub-section (7), the tax required to be collected under this section shall be minimum tax on the income every person arising from imports of following goods – (i) edible oil; (ii) packaging material;…