The Collectorate of Customs Lahore has asked the trade and business community to avail the facility of extension in warehousing period, announced by the federal government to clear their overstayed goods up to June 04, 2006 without payment of any penal surcharge / penalty.
The Collectorate has also conveyed to the Lahore Chamber of Commerce and Industry (LCCI) and Customs Agents Association Lahore to inform their members and clients about this facility provided by the federal government to facilitate the business community across the country.
The CBR, through a notification, dated 17th May 2006 has extended the warehousing period and remitted penal surcharge provided the goods are removed / cleared from the warehouses from 17th May 2006 to 04th June 2006. The federal government has taken this initiative to benefit the trade and business community, particularly the commercial importers, who have not been able to clear their consignments in time on payment of duty and taxes.
According to the officials of the Collectorate of Customs Lahore the facility would benefit all the stakeholders a lot by reducing their cost of doing business.
Under the law, penal surcharge is imposed on goods lying in the warehouses, if they are not cleared within the prescribed period.
Comments
Comments are closed.