THE CBR HAS ISSUED SRO.809(I)2005 ON MONDAY UNDER THE FEDERAL EXCISE ACT, 2005: Sources told Business Recorder the CED was withdrawn on certain raw materials used in the manufacturing of excisable commodities many years ago.
On the other hand, 18 notifications dealing with CED rebate were not withdrawn at that time. In some cases, CED rebate was even available on the export of sugar as well as salt, whereas excise duty on these commodities was withdrawn many yeas ago.
Some of the SROs were issued 25 years ago but were still operative, which created legal complications for the tax machinery.
The CBR export wing recently conveyed to the sales tax department about the necessity of rescinding all these SROs, as excise duty is no longer applicable on the export of these items.
In consultation with sales tax and customs collectors, the CBR has identified all these notifications, which were subsequently rescinded.
ACCORDING TO THE SRO.809(I)2005, THE CBR HAS RESCINDED FOLLOWING NOTIFICATIONS: SRO.1189(I)1979, Man Made Fibre Yarn; SRO.637(I)1980, Glass Bottles; SRO.1279(I)80, Salt; SRO.502(I)81, Cotton Yarn/Solvent Oil; SRO.176(I)84, Xylene-White Spirit with Tin Containers; SRO.439.(I)90, Sugar; SRO.2(I)91, Cut Tobacco; SRO.929(I)93, Coat Duplex Board, Paper Craft line Board; SRO.1174(I)93, Sugar; SRO.902(I)95, Sugar; SRO.718(I)95, Glass Bottles; SRO.1032(I)95, Metal Drums; SRO.290(I)96, Steel Drums; SRO.893(I)96, Fluting and Lining Paper; SRO.849(I) 96, Steel Drums; SRO.1044(I)96, Sugar and Empty Glass Bottles; SRO.1296(I)96, Polyester Filament Yarn and SRO.1051(I)97, Metal Drums.
ACCORDING TO THE NOTIFICATION: the CED rebate on the export of motor lubricating oil 20W-50 for petrol automobiles would be 11.60 percent of the fob value or Rs5.56 per litre, whichever is less.
On export of Motor Lubricating Oil 20W-50 for diesel automobiles, CED rebate will be 7.50 percent of the fob value or Rs5.51 per litre, whichever is less.
On export of marine lubricating oil, all oil grades or types the CED rebate will be 9.36 percent of the fob value or Rs5.37 per litre, whichever is less.
CED rebate of Rs5.56 per M2n/5mm or 3.82 percent of the fob value, whichever is less will be available on the export of Fibre Cement (FC) pipes made of cement and white chrysolite asbestos.
The rebate of Rs3.95 per M2n/5mm or 4.24 percent of the fob value, whichever is less would be available on the export of Fibre Cement (FC) flat sheets made of cement and white chrysolite asbestos.