Exemption on import and supply of solvent oil (PCT heading 2710.1150) for manufacture of shoe adhesives subject to the following conditions

GOVERNMENT OF PAKISTAN MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS AND REVENUE (REVENUE DIVISION) *** Islamabad, the 6 th September, 2006 NOTIFICATION (FEDERAL EXCISE) S.R.O. 949(I)/2006.- In exercise of the powers conferred by sub-section (2) of section 16 of the Federal Excise Act, 2005, the Federal Government is pleased to exempt the import and supply of solvent oil (PCT heading 2710.1150) for manufacture of shoe adhesives subject to the following conditions, namely:- (i) the supply is made to sales tax registered manufacturers of shoe adhesives having a valid storage license from the Department of Explosives, Ministry of Industries and having active industrial electricity meters in their names; (ii) if imported, the import is made directly by sales tax registered manufacturers of shoe adhesives; having a valid storage license from the Department of Explosives, Ministry of Industries and having active industrial electricity meters in their names; (iii) the Collector of Sales Tax having jurisdiction shall verify that the unit claiming exemption has adequate in-house manufacturing facilities; and (iv) consumption of solvent oil according to the standard formulation to be worked out in consultation with the industry, shall be verified by the Collector of Sales Tax having jurisdiction, on a quarterly basis by conducting special audit of the units availing exemption [ C. No. 1/2-STB/2006 ] (Shahid Ahmad) Additional Secretary