Duty, sales tax relief on machinery notified

The Central Board of Revenue (CBR) has exempted from customs duty and sales tax the import of 7-10 different types of plant, machinery and equipment of cutlery industry. The Board on Friday issued SRO 654(I)/2007 allowing exemption of customs duty and sales tax on imports made by the said sector.
Under the notification, town/municipal authorities have been allowed to import fire fighting vehicles and equipment without payment of customs duty and sales tax. In the last budget, an amended SRO 490(I)/2007 was issued.
Certain Pakistan Customs Tariff (PCT) of SRO 490(I)/2007 has been transposed in HS 2007 version. Now, the new notification has been issued in line with the new HS coding system 2007. Changes have been made in nearly 50 PCT headings of the notification during the changing of HS code system.