Amendment in Customs Rules, 2001 [EFS Rules, 2021)

Government of Pakistan (Revenue Division) Federal Board of Revenue *. * {. ,r Notification Islamabad, the 25th Julry,2024. S.R.O. to61 U)|ZO24.- The following draft of certain further amendments in the Customs Rules, 2001, which the Federal Board of Revenue proposes to make in exercise of the powers conferred by section 219 of the Customs Act, 1969 (IV of 1969), section 50 ofthe Sales Tax Act, 1990, section 40 ofthe Federal Excise Act, 2005 and section 237 ofthe Income Tax Ordinance,200l (XLIX of200l), is hereby published for information ofall persons likely to be affected thereby and, as required under sub-section (3A) ofthe said section 2l9,notice is hereby given that objections or suggestions thereon, if any, may for consideration of the Board be sent within fifteen days of publication of the draft amendments in the official Gazette. Any objections or suggestions which may be received from any person, before the expiry ofthe aforesaid period, shall be taken into consideration by the Federal Board of Revenue, namely:- DRAFTAMENDMENTS In the aforesaid Rules, - (4), the following new sub-rules shall be (l) in rule 886, after sub-rule inserted, namely:- sector may be allowed "(4A) The users of recycled copper reduction in the value ofinput goods by the Regulatory Collector,6* equivalent to value of wastages (iron and steel shredded scrap) generated during production ofrefined copper from the imported compressor scrap (HS 7204.4940) and motor scrap (HS 7204.4990) as per determined ratios, subject to the conditions that- wastage (i) leviable duties and taxes are deposited on the upfront at the time of import deemed to be imported in that condition; and the value (ii) FOB export value of refined copper is based on determined under section 25A of Customs Act, 1969 or minimum 3 5oZ value addition to the net recovered copper, whichever is higher.

(4A) ofrule 886 shall (4B) The value reduced under sub-rule be uploaded by the Regulatory Collector in WeBOC or PSW.". 1 0)EP 12021 -Pt.)[F.No.5( I .! (Fa e Samad) Secre (Export Policy)