ISLAMABAD: Federal Board of Revenue (FBR), making amendments in SRO 568(I)/2014, has imposed 12.5 per cent regulatory duty on imports of hot-rolled products, pipes, etc.
The revenue authority increased the duty, while exercising the powers conferred upon it by sub-section (3) of section 18 of the Customs Act, 1969 (IV of 1969).
According to an SRO issued by the, the duty was imposed on import of flat-rolled products of iron or non-alloy steel (width of 600mm or more) hot-rolled, not clad, plated or coated; tubes (pipes and hollow profiles) of cast iron; tubes, seamless, of iron (other than cast iron) or steel; other tubes and pipes (like welded, riveted or similarly) having circular cross-sections, the external diameter of which exceeds 406.4mm, and other tubes, pipes and hollow profiles (like open seam or welded, riveted or similarly closed) of iron or steel. The duty would also be applied on the import of galvanised steel tubes, metals shells and HRC.
