KARACHI: The Model Customs Collectorate Appraisement-West has planned to start a crackdown on importers of pharmaceuticals raw material, for misusing SRO551 in clearance of the material under PCT Headings 2933.5940 and 2933.5990; sources told Customs Today.
According to the Federal Board of Revenue (FBR) sources, the Appraising Intelligence Branch (AIB/R&D) of MCC-Appraisement-West has written a letter to the authorities concerned, saying that various importers on scrutiny were found involved in misusing the Serial No. 11 of SRO551(I)/2008 in clearance of “norfloxacin” under PCT Headings 2933.5940 and 2933.5990.
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In the letter, the officials also informed the collectorate that the pharmaceutical raw material by virtue of description and classification was specified in customs tariff under PCT Heading 2933.5940, chargeable to Customs Duty @20 percent thus; does not qualify for exemption from whole of sales tax under the purview of SRO551 (I)/2008, as the exemption from whole of sales tax under aforesaid SRO is available to only those pharmaceutical raw materials which are chargeable to customs duty within the extent of 10 percent.
It is pertinent to mention that the AIB has recently detected a case of misusing the SRO 551 on clearance of “Ibuprofen” imported by Stand Pharma Pakistan (Private) Limited.
