Exemption From Customs Duty on machinery and equipments

GOVERNMENT OF PAKISTAN MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS & REVENUE (REVENUE DIVISION) *** Islamabad, the 6th June, 2005. NOTIFICATION (CUSTOMS) SRO. 577(I)/2005.- In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), clause (a) of sub-section (2) of section 13 of the Sales Tax Act, 1990, 1[and] sections 148 and 53 read with the Second Schedule to the Income Tax Ordinance, 2001 (XLIX of 2001), 1[omitted] and in supersession of its Notification No.S.R.O.932(I)/2004, dated the 20th November, 2004, the Federal Government is pleased to exempt old and used automotive vehicles 3[of Asian makes]meant for transport of persons, specified in column (2) of the Table below, falling under PCT heading No. 87.03 of the First Schedule to the Customs Act, 1969 (IV of 1969), on the imports from so much of the customs-duty, sales tax 1[and] withholding tax 1[omitted] as are in excess of the cumulative amount specified in column (3) thereof. 1&3[TABLE S. No. Automotive vehicles of Asian Duty and taxes in US$ or makes meant equivalent amount in Pak for transport of persons. rupees. (1) (2) (3) 1. Upto 800CC US$ 5[4800] 2. Upto 801cc to 1000cc US$ 5[6000] 3. From 1001cc to 1300CC US$ 5[12000] 4. From 1301cc to 1500CC US$ 5[16900] 5. From 1501cc to 1600CC US$ 5[20500] 6. From 1601 cc to 1800 CC US$ 5[25400] (excluding jeeps) 2. Depreciation in the duties and taxes @ 2[1]% per month in payable amount as per cumulative scales mentioned in the Table shall be allowed subject to a maximum of 50% 4[ but 60% for cars] as per Customs General Order No. 14 of 2005 dated 6th June, 2005. Other old and used vehicles shall be assessed as per normal procedure prescribed under the above mentioned Customs General Order. 3. This notification shall take effect from the 6th day of June, 2005. [C.No.2(10)Tar.II/97.Pt.II]. (MUHAMMAD RAMZAN) ADDITIONAL SECRETARY As amended: 1. S.R.O.560(I)/2008 - dated 11.06.2008(w.e.f.12.06.2008) 2. S.R.O.25(I)/2009 - dated 12.01.2009 3. S.R.O.84(I)/2010 - dated 15.02.2010 4. S.R.O.275(I)/2011 - dated 26.03.2011 5. S.R.O.562(I)/2014 - dated 26.06.2014