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Procedure regarding collection of ST at import stage on retail price finalised

Procedure regarding collection of ST at import stage on retail price finalised

ISLAMABAD: According to a circular issued by Pakistan Customs, as per the measures taken through federal budget 2019-20, the items listed in Third Schedule of Sales Tax Act, 1990 shall now be assessed at the retail price at the import stage.

The customs department also directed that retail prices should also be printed on each individual item in the manner as specified clause (a) of sub-section (2) of the section 3 of the Sales Tax Act 1990. However, during the interim period up to July 31, 2019, the clearance may also be allowed if the imported items are affixed with sticker, showing declared retail price.

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