FBR Waives Regulatory and Customs Duty on Stuck Consignments

The Federal Board of Revenue (FBR) has decided not to impose regulatory duty and additional customs duty on the clearance of stuck-up consignments of previously banned items, including luxury goods, under the Ministry of Commerce’s S.R.O. 598(1)/2022. In this regard, the FBR issued SRO.1953 (I)/2022 and S.R.O. 1954 (I)/2022 on Tuesday. According to the S.R.O. 1954 (I)/2022, additional customs duty shall not be applicable on the stuck-up consignments of previously banned items notified vide Notification No. S.R.O. 598(1)/2022 of Ministry of Commerce where goods declarations have been filed on or after August 22, 2022, and where the surcharge calculated as per Office Memoranda issued by the Ministry of Commerce is higher than the cumulative revenue impact of regulatory duty and additional customs duty as levied vide  Notifications No. S.R.O. 1571(1)/2022 and No. S.R.O. 1572(1)/2022 respectively. Under SRO.1953(I)/2022,  the regulatory duty shall not be charged on stuck-up consignments of previously banned items notified vide Notification No. S.R.O. 598(1)/2022, of Ministry of Commerce where goods declarations have been filed on or after August 22, 2022, and where the surcharge calculated as per Office Memoranda, dated July 22, 2022, August 19, 2022, and August 23, 2022, issued by Ministry of Commerce is higher than the cumulative revenue impact of regulatory duty and additional customs duty as levied vide Notifications No. S.R.O. 1571(1)/2022 and No. S.R.O. 15720)/2022, both dated the 22nd day of August 2022, respectively.