ISLAMABAD: The Federal Board of Revenue (FBR) has refused to withdraw a notification regarding 10 percent regulatory duty on 1,230KV gas generators.
According to FBR sources, FBR Chairman Tariq Mehmood Pasha informed the Chairman Senate Standing Committee on Finance and Revenue Saleem Mandviwala that the federal finance minister and in-charge minister have the authority to imposed regulatory duty on different items. Parliament has empowered them through the finance act, therefore, the FBR cannot withdraw the notification of regulatory duty on gas generators.
It is pertinent to mention here that the committee directed Federal Board of Revenue to withdraw its notification that has resulted in imposition of 10 percent regulatory duty on import of gas generators of 1250 KV or more capacity.
FBR should inform the importers before imposing such duties so that they may prepare themselves accordingly. Chairman Federal board of Revenue Tariq Pasha in his letter addressed to Chairman Senate Committee has clarified that there is no need to discuss in the Parliament for the imposition of the regulatory duty.
Chairman Federal Board of Revenue has also stated that the regulatory had been imposed on the advice of ministry of commerce.
