Bank guarantee encashable for breach of rules
SRO 04(I)/2021Rules and amendments to rules
SRO 04(I)/2021 is a Customs SRO dated 4 January 2021, listed by FBR as "Bank guarantee encashable for breach of rules".
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GOVERNMENT OF PAKISTAN
(REVENUE DIVISION)
FEDERAL BOARD OF REVENUE
****
Islamabad, the 4th January, 2021.
NOTIFICATION
(Customs)
S.R.O. 04 (1)/2021.- In exercise of the powers conferred by section 219 of the
Customs Act, 1969 (IV of 1969), section 50 of the Sales Tax Act, 1990, section 40 of the Federal
Excise Act, 2005 and section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), the
Federal Board of Revenue is pleased to direct that the following further amendment shall be
made in the Customs Rules, 2001, which, as required under sub-section (3A) of the said section
219, was previously published vide Notification No.S.R.0 1302(1)/2020, dated the 241d
December, 2020, namely:-
In the aforesaid Rules, in rule 554, in sub-rule (6), in clause (d), for the word "bank", the
word "security" shall be substituted.
C. No.1(2)/L&P/20191
(Ward All)
Secretary (Law & Procedure)
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