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Customs directed to charge sales tax at 9% on fabric import

Customs directed to charge sales tax at 9% on fabric import

KARACHI: Federal Board of Revenue (FBR) has directed customs authorities to recover the difference of sales tax rate on commercial imports of fabrics effective from July 1, 2018; however, the entry was made in online system from July 18.

In a notification issued to the Director (Reforms and Automation), Customs House, Karachi, the FBR said that an amendment was made to SRO 1125(I)/2011 dated December 31, 2011 through SRO 777(I)/2018, dated June 21, 2018, the rate of sales tax on the commercial import of finished fabric was enhanced from six percent to nine percent. The rate is effective from July 01, 2018. However, the entries were made in the WeBOC on July 18, 2018.