KARACHI: Federal Board of Revenue (FBR) has granted concessionary duty on import of machinery and equipment for marble, granite and gemstone extraction and processing industries.
The FBR issued Fifth Schedule of Customs Act, 1969 to allow the concessionary duty between 3-5 percent on the import of following machinery and equipment for marble, granite and gem stone extraction and processing industries.
1) Polishing cream or material under HS Code 3405.4000 & 3405.9000 at 3 percent and 5 percent
2) Fiber glass mesh under HS Code 7019.5190 at 5 percent
3) Chain saw/diamond wire saw in all sizes and dimensions and spares thereof, diamond wire joints all types and dimensions, chain for chain saw and diamond wires for wire saw and spare widia under HS Code 8202.4000 & 8202.9100 at 5 percent.
4) Gin saw blades under HS Code 8202.9910 at 5 percent
5) Gang saw blades/ diamond saw blades/ multiple blades or all types and dimensions under HS Code 8202.9990 at 5 percent
6) Air compressor (27cft and above) under HS Code 8414.8010 at 5 percent
7) Machine and tool for stone work; sand blasting machines; tungsten carbide tools; diamond tools & segments (all type & dimensions), hydraulic jacking machines, hydraulic manual press machines, air/hydro pillows, compressed air rubber pipes, hydraulic drilling machines, manual and power drilling machines, steel drill rods and spring (all sizes and dimensions), whole finding system with accessories, manual portable rock drills, cross cutter and bridge cutters under HS Code 8464.9000 & Respective headings at 3 percent & 5 percent
8) Integral drilling steel for horizontal and vertical drilling, extension thread rods for pneumatic super long drills, tools and accessories for rock drills under HS Code 8466.9100 at 5 percent.
The duty concession has been allowed with conditions included:
- For the projects of Gem Stone & Jewelry Industry, CEO/COO, Pakistan Gem and Jewelry Company shall certify in the prescribed format and manner as per Annex-B that the imported goods are bona fide project requirement. The authorized person of the Company shall furnish all relevant information online to Pakistan Customs Computerized System against a specific user ID and password obtained under section 155D of the Customs Act, 1969.
- For the projects of Marble & Granite Industry, CEO/COO, Pakistan Stone Development Company shall certify in the prescribed format and manner as per Annex-B that the imported goods are bonafide project requirement. The authorized persons of the Company shall furnish all relevant information online to Pakistan Customs Computerized System against a specific user ID and password obtained under section 155D of the Customs Act, 1969.
- The goods shall not be sold or otherwise disposed of within a period of five years of their import except with the prior approval of the FBR and payment of customs duties and taxes leviable at the time of import.
