SRO 375(I)/2000

GOVERNMENT OF PAKISTAN MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS & REVENUE (REVENUE DIVISION) **** Islamabad, the 17th June, 2000. NOTIFICATION (CUSTOMS) S.R.O. 375 (I)/2000.- In exercise of the powers conferred by section 219 of the Customs Act, 1969 (IV of 1969), read with section 211 thereof, the Central Board of Revenue is pleased to make the following rules, namely:- 1. Short title and commencement.- (1) These rules may be called the Importers' (Maintenance of) Accounts Rules, 2000. (2) These shall come into force at once. 2. Definitions.- In these rules, unless there is anything repugnant in the subject or context,- (a) "Act" means the Customs Act, 1969 (IV of 1969) (b) "Board" means the Central Board of Revenue constituted under the Central Board of Revenue Act, 1924 (IV of 1924); (c) "duties" includes customs duty leviable under the First Schedule to the Customs Act, 1969; (d) "Account" means all books, records, correspondence, bank and other financial statements. 3. Persons responsible to maintain account.- All importers of goods, except those importing goods for bonafide private or personal purposes, shall maintain accounts in the manner prescribed hereafter. 4. Details of accounts to be maintained.- The accounts to be maintained under these rules shall give details of,- (a) the origin, marking, purchase, importation, sale or other disposal after importation, costs and value of any goods imported; and (b) payment for the goods imported, howsoever effected including payments made within or outside Pakistan, and in records relating to bank accounts maintained, or cash transactions made, within or outside Pakistan.

5. Record of exempt goods to be maintained.- Every person who imports or causes to import, the goods that have been released free of duty or at a reduced rate, because of their intended use, in addition to the accounts prescribed in rule 4 above, shall be maintained,- (a) a certificate or other record signed by the user of the imported goods showing the user's full name, address and occupation and indicating the actual use made of the imported goods, or (b in the case where the imported goods have been diverted to a use other than that for which they were released free of duty or at a reduced rate, or have been sold or otherwise disposed of to a person not entitled to have such imported goods released, records containing information sufficient to confirm that the full applicable duties have been paid. 6. Place of maintenance of accounts.- The accounts shall be maintained at the importers' business address as mentioned in bill of entry for home consumption or ex-bond , as the case may be, or such other address as is notified to and approved by an Officer of Customs. 7. Access to the accounts provided to customs officer.- Every person maintaining accounts in the prescribed manner shall keep the accounts in such a manner as to enable an officer of customs to perform detailed audits or examinations of the accounts and related books and records and to obtain or verify the information on which the determination of the amount of duty and taxes paid or payable was made. 8. Record not to be destroyed.- The accounts prescribed under these rules shall not be destroyed before the expiration of statutory period provided in section 211 of the Customs Act,1969. 9. Machine readable data Accounts.- All accounts as prescribed hereinbefore may be kept on machine readable media, provided that the media can be related back to the supporting source documents and are supported by a system capable of producing accessable and readable data.

10. Rescission of rules, etc.- All previous rules, orders and instructions issued by the Board on this subject are hereby rescinded. --------------------------------------------------------------- [C.No.______________] ( MIR FUAD )