Trends - Customs Act - Business Recorder

Customs Act

Sec 179(4) Customs Act: Power of FBR to grant extension ‘narrower’: SC

ISLAMABAD: The Supreme Court noted that the power of Federal Board of Revenue (FBR) under Section 179(4) of the...

Updated 03 Jun, 2025 09:05am

Business & Finance

Importer wins case as delay in order held invalid

LAHORE: A goods importer has proved that a direction provided in the law for passing an order within certain period...

Published 29 Apr, 2025 03:07am

Pakistan

Customs officials accused of flouting orders of tribunals

LAHORE: Customs officials are allegedly flouting the orders of tribunals despite clear-cut directions from the...

Published 27 Oct, 2024 02:44am

Business & Finance

Powers and functions of Customs officials: Frontier Corps Balochistan (North/South) empowered

ISLAMABAD: The Federal Board of Revenue (FBR) has empowered the officers of Frontier Corps Balochistan (North/South)...

Published 04 Oct, 2024 06:46am

Business & Finance

Assessment alert issued by AC Customs challenged

LAHORE: An importer has challenged an assessment alert issued by Assistant Collector of Customs that the assessment...

Published 15 Sep, 2024 02:45am

Business & Finance

NOTES ON CLAUSES

CUSTOMS ACT, 1969 (IV OF 1969) Clause 3 (1) (a) Seeks to add new clause in ...

Published 13 Jun, 2024 06:43am

Business & Finance

Tax authorities fail to encash expired bank guarantee as govt dues

LAHORE: Tax authorities have failed to encash expired bank guarantee for recovery of government dues, said sources....

Published 16 Feb, 2024 06:02am

Opinion

Claim of input tax under Sales Tax Act, 1990

General, The Federal Board of Revenue (FBR) has proposed a fundamental change in the Federal Sales Tax system which...

Updated 19 Dec, 2023 05:41am

Customs’ values on import of 26 types of spices, herbs, gums fixed

ISLAMABAD: Directorate General of Customs Valuation Karachi has fixed new Customs values on the import of 26...

Updated 25 Oct, 2023 09:33am

Pakistan

Sect 223 of Customs Act confers broad, general power on FBR: SC

ISLAMABAD: The Supreme Court noted that Section 223 of the Customs Act, 1969, confers a broad and general power, of...

Published 07 Sep, 2023 06:21am

Suspected smugglers: Extensive powers granted to PCG, PMSA

ISLAMABAD: The Federal Board of Revenue (FBR) has given extensive powers to the Pakistan Coast Guards (PCG) and...

Updated 12 Jul, 2023 08:52am

Business & Finance

From one customs field formation to another: FBR empowered to transfer investigations of criminal cases

ISLAMABAD: The Federal Board of Revenue (FBR) has been empowered to immediately transfer the investigation of...

Published 04 Jul, 2023 05:07am

Pakistan

Customs foils bid to smuggle paper needed for cigarette-making

ISLAMABAD: The Collectorate of Customs (Enforcement) Karachi has unearthed a new fraudulent technique used by...

Updated 28 Oct, 2022 07:39am

Business & Finance

KCCA urges FBR to amend Customs Act, PSW system

KARACHI: Karachi Customs Agents Association (KCAA) has requested the Federal Board of Revenue (FBR) to make ...

Published 19 Aug, 2022 05:57am

GST exemption to pharma industry costs FBR over Rs101bn

ISLAMABAD: The Federal Board of Revenue (FBR) has calculated a revenue loss of over Rs101 billion on account of...

Updated 09 Jul, 2022 09:30am

Pakistan

Senate body adopts 27 recommendations on Finance Bill

National Assembly to decide whether or not these recommendations are to be incorporated into the Money Bill

Published 23 Jun, 2022 07:17pm

Business & Finance

FBR urged to defer effective date of SRO 567(1)/2022 until July 1

KARACHI: Karachi Customs Agents Association (KCAA) has requested the Federal Board of Revenue (FBR) to defer the...

Published 17 May, 2022 05:39am

Business & Finance

5th Schedule of Customs Act 1969: FPCCI urges FBR to introduce amendments

ISLAMABAD: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has recommended the Federal Board of...

Published 13 May, 2022 05:59am

Customs values of alloy wheel rims enhanced

ISLAMABAD: The Directorate General of Customs Valuation, Karachi has increased custom values on the import of 50...

Updated 27 Feb, 2022 11:07am

Pakistan

Traders oppose removal of Section 25-A from Customs Act

PESHAWAR: Local traders have opposed the recent amendment in the Custom Act to delete Section 25-A, restoring powers...

Published 20 Dec, 2021 06:29am

Pakistan

Customs official says properties of smugglers being assessed

LAHORE: Collector Customs Enforcement Lahore, Basit Maqsood Abbasi has said that the clauses of anti-money ...

Updated 03 Oct, 2021 07:24pm

Business & Finance

An Ordinance

Annex - IV further to amend certain tax laws WHEREAS, it is expedient further to amend certain tax laws for the...

Published 20 Sep, 2021 05:23am

Some specific companies: Rs1.6bn penal surcharge waived

ISLAMABAD: The Federal Government has waived off Rs 1.6 billion penal surcharge to some specific companies on the...

Updated 20 Sep, 2021 09:41am

Pakistan

Sec 45(2) of Customs Act: Amendment to IGM under WeBOC couldn't be carried out: SHC

KARACHI: Sindh High Court (SHC) has declared that amendment to Import General Manifest (IGM) under WeBOC system in...

Published 18 Sep, 2021 04:02am

Overstayed goods: Waiver of penal surcharge not likely

ISLAMABAD: Finance Minister Shaukat Tarin has reportedly "blocked" a proposal of Federal Board of Revenue (FBR)...

Published 31 Aug, 2021 03:43am

Non-commercial cargo

Bonded carriers to submit exemption certificate of Afghanistan with GD: FBR ISLAMABAD: The Federal Board of Revenue...

Published 12 Aug, 2021 03:15am

Sale of non-duty paid, smuggled cars: FBR launching crackdown on showrooms, warehouses

Business

Opinion

Budget: Out-of-the-box actions

In the following paragraphs I will only discuss three major proposals in the proposed Finance Bill, 2021, two of...

Published 17 Jun, 2021 03:27am

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Currency	Rate
USD PKR Interbank Selling / Jul 14	284.77
USD PKR Interbank Buying / Jul 14	284.52
USD to Japanese Yen / Jul 14	147.66
USD to Swiss Franc / Jul 14	0.80
Pound Sterling to USD / Jul 14	1.34
Euro to USD / Jul 14	1.17
UK LIBOR % / Jul 14	4.96

Stock	Volume
S&P 500 / Jul 14	6,268.56
India Sensex / Jul 14	82,253.46
Tokyo Nikkei / Jul 14	39,502.44
Nasdaq / Jul 14	20,640.33
Hang Seng / Jul 14	24,238.51
FTSE 100 / Jul 14	8,998.06
Dow Jones / Jul 14	44,459.65
Germany DAX 30 / Jul 14	24,160.64
France CAC40 / Jul 14	7,808.17

Item	Value
Crude Oil USD/Barrel / Jul 14	66.60
Karachi Cotton PKR/37.32 KG / Jul 14	16,585
Gold 10 Grams PKR / Jul 14	308,384
Gold Spot USD/Ounce / Jul 14	3,357.40
Cotton US¢/pound / Jul 14	67.96
Petrol/Litre / Jul 16	272.15
Diesel/Litre / Jul 16	284.35

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