Wednesday, April 24th, 2024
Home »Budgets » 2016-17 » 25 percent RD imposed on import of powdered milk, whey powder

  • News Desk
  • Jun 4th, 2016
  • Comments Off on 25 percent RD imposed on import of powdered milk, whey powder
The government has imposed 25 percent regulatory duty (RD) on the import of powdered milk and whey powder in budget (2016-17), resulting in total duties of 45 percent (20 percent customs duty and 25 percent RD) on the import of these items. According to the Finance Bill 2016 released here on Friday, a big revenue generation measure on customs side is that one percent duty has been raised on the import of 1408 items. Duty has been raised from 10 to 11 percent on the import of 900 items and 15 to 16 percent duty raise on the import of 508 items.

The exemption from CD on water quality testing kits, existing duty 20 percent and proposed customs duty 0 percent; concessions of CD on local manufacturing of LED lights, existing duty 20 percent and proposed customs duty 5 percent; exemption from CD on Linear Aky Benzene, existing duty 2 percent and proposed customs duty 0 percent; reduction in CD on raw material of PVC Resin, existing duty 5 percent and proposed customs duty 3 percent; Reduction in CD on White Spirits, existing duty 10 percent and proposed customs duty 3 percent; Reduction in CD on Stamping foil, existing duty 20 percent and proposed customs duty 16 percent; reduction of CD on Fatty Alcohol Ethoxylate, existing duty 15 percent and proposed customs duty 5 percent; Reduction in CD on CFC Free Gases, existing duty 15 percent and proposed customs duty 11 percent; Reduction in CD rate for Aluminum Sheet in Coil, existing duty 20 percent and proposed customs duty 11 percent; Reduction in CD on Thermostats of Deep-freezers, existing duty 20 percent and proposed customs duty 3 percent; Rationalisation of CD on Betel nuts and Betel Leaves, existing duty 20 percent Rs 300/kg and proposed customs duty 20 percent Rs 600/kg; rationalisation of CD on Almonds , existing duty 10 percent and proposed customs duty 20 percent; Rationalisation of CD Frozen Fish, existing duty 10 percent and proposed customs duty 20 percent; Increase of CD on Medium Density Fiber board, existing duty 15 percent and proposed customs duty 20 percent; Increase of CD on Cement Clinker, existing duty 2 percent and proposed customs duty 11 percent; Increase in CD on Semi Printed/Printed Security Paper, existing duty 5 percent and proposed customs duty 16 percent; Increase in CD on Live Chicken stock and Eggs of chicken, existing duty 5 percent and proposed customs duty 11 percent; Increase in CD on Birds eggs(not in shell), existing duty 5 percent and proposed customs duty 16 percent; Removal of RD from Bead Wire for tyres Manufacturers , existing duty RD 20 percent and proposed customs duty 0 percent; removal of RD from Carbon Steel Strips used by Razor blade manufacturers, existing duty RD 17.5 percent and proposed customs duty 0 percent; levy of RD on Powdered Milk, existing duty 20 percent and proposed customs duty 20 + 25 RD percent and levy of RD on Whey Powder, existing duty 20 percent and proposed customs duty 20+25RD percent.

Under the Finance Bill, tariff slabs reduced from existing 5 to 4 by merging 2% slab and 5% slab in new 3% slab. 10% and 15% slabs substitute with 11% and 16% slabs respectively and concessions of CD for Dairy, Livestock & Poultry Sectors from 5% to 2%. The concessions of CD for Fish Farming, fish feed pellet (floating type) machines from 5% to 2%, fish / shrimp feed 10% & 20% to 0%. The FBR has also announced exemption from CD on import of Premixes to prevent growth stunting (from 5 - 20 to 0%).

The FBR also specified expansion in scope of exemption on Renewable Energy Technologies. The FBR has expanded expansion in scope of exemption for charitable non-profit making Institutions Operating Hospitals. The FBR announced relief on Cool Chain Machinery and extension in relief on import of Solar Panels till June, 2017. The FBR also granted exemption from CD and taxes on disposal of old & used ambulances imported by Edhi Foundation and implementation of automotive development policy (ADP) 2016-2021.

Copyright Business Recorder, 2016


the author

Top
Close
Close