Avoiding one percent excise duty: importers advised to expedite cargo clearance

As the Central Board of Revenue (CBR) would shortly issue a notification to levy one percent special excise duty on the import of goods, the importers should expedite clearance of consignments to avoid one percent excise duty from July 1, 2007.
Sources told Business Recorder on Tuesday that importers should speed up clearance of imported goods for non-applicability of special excise. If the importers managed to get clear their consignments till imposition of the levy, it would be in their own benefit. In this connection, a few days are left for the business community to enjoy exemption from this special excise, sources said. The CBR would also impose special excise duty on the local production as well as manufacturing stage from July 1.
The Board will exempt certain sectors and items from the levy at the local manufacturing stage. The Board has finalised a list of items/sectors on which special one percent excise duty would not be levied at the local manufacturing stage.