The Central Board of Revenue (CBR) has reduced duty drawback on the import of spices, dyestuff and wedding/greeting cards from April 28, 2005. The CBR has amended standard SRO.415(I)/2005 through three notifications issued on Sunday. The duty drawback has been reduced on the export of wedding cards, Eid cards, greeting cards, visiting cards, Christmas cards and invitation cards to 1.94 percent of the fob value. The raw material used in the manufacturing of finished product includes paperboard, white card, cardboard, coated art paper, art card, bond cardboard and aluminium foil paper.
According to another notification, duty drawback has been slashed on the export of all types of dyestuff upto 2.08 percent of the fob value.
The duty drawback on the export of recipe masala in retail packing will be 1.13 percent of the fob value; black pepper powder in retail packing, 1.81 percent of the fob value and duty drawback on the export of ginger powder in retail packing has been reduced to 1.63 percent of the fob value.
The CBR has used powers under Section 21 ( C) of the Customs Act, 1969 to implement the decision.
Comments
Comments are closed for this article.