ISLAMABAD (February 10 2004): The Central Board of Revenue (CBR) has launched recovery drive against the importers of canola oil whose consignments were released under wrong headings of Pakistan Customs Tariff (2003-2004) to evade duty.

The CBR has asked the collectors of customs to charge duty of Rs 18,000 per tonne on the imported consignments of Canola oil under PCT heading 1514.1900 instead of applying heading 1514.9900 which bring down duty to Rs 10,200 per tonne.

Sources told Business Recorder here on Monday that the CBR has taken the decision in the light of findings of Collectorate of Appraisement, Karachi.

Collector, Appraisement has informed CBR that a company of Karachi imported a consignment of pure Canola oil from Canada during November 2003 and filed a bill of entry for release under PCT heading 1514.9900 for levying custom duty at the rate of Rs 10,200 per tonne.

On scrutiny of the documents provided by the importer and consulting the explanatory notes of tariff, it came to light that Canola oil having low erucic acid is correctly classifiable under PCT heading 1514.1900 chargeable to custom duty at Rs 18,000 per tonne.

In this regard, the Collectorate of Appraisement, Karachi has issued demand notices to the importers pertaining to consignments released in past for the recovery of custom duty.

Courtesy Business Recorder