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Home Breaking News

Various changes made in customs act 1969

byCustoms Today Report
05/06/2014
in Breaking News, Lahore, Latest News
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LAHORE: Various changes have been undertaken in the Customs Act, 1969 under Budget Customs Taxation.

In section 2, clauses (k) and (m) have been merged in a single definition of ‘customs-station’ while in section 7, word ‘Central Excise’ is substituted with the word ‘Federal Excise’. In section 18, new subsection 1A is inserted to add the Fifth Schedule to the Customs Act, 1969.

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In section 18A the word ‘Central Excise and Salt Act, 1944’ is substituted with the words ‘Federal Excise Act, 2005’. To ensure rational applicability of valuation data in cases of imported goods, clause (d) of sub-section (5) of section 25 is omitted.

Resultantly, reference to clause (d) in sub-section (6) is also omitted. The word ‘taxes’ is inserted in sub-sections (2), (3) and (3A) of section 32 to recover non-levied and short levied taxes. The words ‘taxes and other charges levied thereon’ is inserted in sub-section (3) of section 80 to replace ‘taxes and other charges on reassessment of goods’. For uniformity of the two provisions in subsection (1), the words ‘taxes and other charges levied thereon’ is inserted.

Under the Control of Narcotics Substances Act, 1997 cases involving narcotics and narcotic substances are to be tried in Special Courts created under the said Act. Necessary changes are made in section 185B. In Sub-sections (3) of section 194 the words ‘Customs and Excise Group’ are proposed to be substituted by ‘Customs Service of Pakistan’ in line with section 202B.

Tags: Budget 2014-15Customs Act 1969Customs NewsCustoms TodayFBRnewsPakistan CustomsTaxation

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