Seven categories of cases have been covered under the amnesty scheme for availing exemption from fine and penalty on payment of principal amount of custom duty by the business community up to July 31, 2005.
Explaining the contents of SRO (I)/2005 of July 7, 2005, official sources told Business Recorder that exemption of fine/penalty is available (to parties) against whom an amount of customs duty is outstanding on account of audit observation, audit report, demand notice or any adjudication order.
The exemption of fine/penalty is also available for those who failed to pay any amount of customs duty or claimed inadmissible refund or duty drawback of customs duty due to any reason. This is subject to the condition that the outstanding principal amount of customs duty, whether payable or illegally got repaid or refunded, is paid by July 31, 2005.
Provided that nothing in this notification shall entitle any person to claim or take refund of any amount of customs duty already paid by or recovered from him.
FOLLOWING IS THE TEXT OF THE NOTIFICATION: In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), the Federal Government is pleased to exempt whole of the amount of fine and penalties payable by a person against whom an amount of customs duty is outstanding on account of any audit observation, audit report, demand notice or any adjudication order or who has failed to pay any amount of customs duty or claimed inadmissible refund or duty drawback of customs duty due to any reason subject to the condition that the outstanding principal amount of customs duty whether payable or illegally got repaid or refunded, is paid by 31st July, 2005.
Provided that nothing in this notification shall entitle any person to claim or take refund of any amount of customs duty already paid by or recovered from him.
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