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Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Customs JIAP seizes precious diamonds worth Rs11m

KARACHI: Pakistan Customs team deputed at Jinnah International Airport (JIAP) intercepted a passenger Zahid Khalil and recovered 136 carats precious diamonds worth Rs11 million. Sources said that Additional Collector Yusuf Magsi received credible information regarding smuggling of gold and diamonds. He directed Deputy Collector Inamullah Wazir to take all necessary measures and enhance vigilance on international arrival lounge. The Customs ... Read More »

Sindh decides to add utility tax to gas bills

KARACHI: The Sindh government has decided to impose another utility tax, days after it had proposed the collection of two KMC taxes — fire tax and conservancy tax — through monthly electricity bills sent to residents to ensure their recovery. Sindh Solid Waste Management Board’s (SSWMB) spokesperson said the garbage collection tax would be added to the residents’ gas bills, ... Read More »

SHC seeks comments on petition filed by M/s Usman 

KARACHI: A two-member bench, comprising Justice Shafi Muhammad Siddiqui and Justice Agha Faisal directed customs officials to file their respective para wise comments on a constitutional petition filed by importer seeking provisional release of imported consignment of polyester textured yarn. On 22 September 2021, during the hearing, counsel for M/s Usman argues that petitioner has imported a consignment of polyester ... Read More »

Customs Court approves progress report in contraband goods smuggling case

KARACHI: The Customs Court framed charge against suspects namely Nabi Bux Purkhani, Anaar Gul and others, and issued summons to prosecution witness and called them to next date of hearing for recording their statements, suspects are booked in a first information report (FIR) for smuggling huge quantities of contraband goods into Pakistan and losing the national exchequer. On 22 September ... Read More »

SHC issues contempt notice to CIR on petition filed by M/s Surge Laboratories

KARACHI: A two-member bench of the Sindh High Court (SHC) issued contempt notice to commissioner inland revenue zone-I, large taxpayer unit-II and called him in person for next date of hearing, on a constitutional petition filed by M/s Surge Laboratories importer of a vast variety of pharmaceutical products. On 21 September 2021, a two-member bench, headed by Justice Shafi Muhammad ... Read More »

SHC dismisses reference application filed by Appraisement East against M/s Qamar & Company

KARACHI: A two-member bench, comprising Justice Shafi Muhammad Siddiqui and Justice Agha Faisal dismissed reference application filed by Collector of Customs through Additional Collector of Customs Appraisement East against M/s Qamar & Company. On 21 September 2021, during the hearing, Muhammad Rashid Advocate appeared on behalf of the petitioner and undertakes to file his vakalanama and seeks adjournment. After the ... Read More »

SRB extends last date for sales tax payment, return filing

KARACHI: The last date for payment and sales tax return has been extended by Sindh Revenue Board (SRB). The provincial revenue authority issued the Circular No. 04 to extend the last date. According to the circular, the amount of Sindh sales tax for the tax period July 2021 may be deposited electronically on or before Tuesday August 24, 2021. Further, ... Read More »

Customs Court seeks progress report against M/s Bin Bakar Enterprises, M/s Sial Enterprises in mis-declaration scam

KARACHI: The Customs Court directed investigation officer of Customs Appraisement East to complete investigation and submit progress report against partners/ owners of M/s Bin Bakar Enterprises, Karim Bux, proprietor M/s Sial Enterprises, Muhammad Ismail, Muhammad Rizwan, Muhammad Shakeel, directors of M/s Bismillah Logistics, Muhammad Aamir, Asif Khan and others booked for mis-declaration in terms of quantity, unit value and description ... Read More »

SHC dismisses petition filed by M/s Abdullah Associates & others

KARACHI: The Sindh High Court (SHC) has dismissed the constitutional petition as not pressed by M/s Abdullah Associates, Syed Rehan Ali seeking release order of their imported consignment of Brake Lining in Rolls assorted sized. On 21 September 2021, a two-member bench, headed by Justice Shafi Muhammad Siddiqui and Justice Agha Faisal heard the matter. During the hearing, Chudry Muhammad ... Read More »

Monetary policy: SBP hikes interest rate by 25 bps to 7.25pc

KARACHI: The State Bank of Pakistan (SBP) on Monday increased the benchmark interest rate by 25 basis points to 7.25% for the next two months. A small number of experts expected the central bank to surprise the market by hiking the rate while considering the vulnerabilities in current account balance, uptrend in weekly sensitive price index and resumption of the ... Read More »

SBP eases conditions for Afghan Transit Trade

KARACHI: State Bank of Pakistan (SBP) on Monday relaxed conditions of the Foreign Exchange Manual to facilitate Afghan Transit Trade in the wake of prevailing conditions in the neighboring country. The central bank issued a circular to relax the conditions. The SBP through Foreign Exchange Circular No. 07 dated August 05, 2021 in terms of which SBP notified revision of ... Read More »

Cargo ship carrying first fleet of 40 Green Line buses arrives at Karachi port

KARACHI: A cargo ship carrying 40 Green Line Project Buses has reached Karachi Port on Sunday. As being reported the vessel named Fan Shun, loaded with 40 buses, entered Pakistan’s territorial waters on Sunday early morning. Another consignment of 40 buses is reported to be arriving in Pakistan from China in the first week of October. Federal Minister for Planning ... Read More »

SHC dismisses petition filed by M/s Galaxy Enterprises & others

KARACHI: A two-member bench has dismissed the constitutional petition filed by M/s Galaxy Enterprises and others and declared it as premature, importers had approached the court against detention of their imported consignment and fixation of allegation of mis-declaration. On 18 September 2021, a two-member bench, headed By Justice Shafi Muhammad Siddiqui heard the matter. During the hearing, Muhammad Adnan Moton ... Read More »

SHC seeks comments on petition filed by M/s Farm Plant for release of imported consignment

KARACHI: A two-member bench, comprising Justice Shafi Muhammad Siddiqui and Justice Agha Faisal directed counsel for the petitioner to assist the court regarding maintainability of petition filed by M/s Farm Plant seeking release order for imported consignment of Gum Copal. On 19 September 2021, during the hearing, Abu Bakar Khalil Advocate appeared on behalf of the petitioner and made his ... Read More »

SHC lifts stay on customs duty for wheat imports

KARACHI: The Sindh High Court removed a six-year-long injunction on customs duty on wheat imports. On 17 September 2021, a two-member bench comprising Justice Muhammad Shafi Siddiqui and Justice Agha Faisal was hearing a set of pleas pertaining to customs duty on wheat imports. The Customs counsel contended that wheat importers caused hefty losses to the national exchequer by avoiding ... Read More »

Customs Court approves physical remand of accused in mobile accessories smuggling case

KARACHI: The Customs Court sent suspect namely Hassan Abbas son of Muhammad Hanif to customs preventive custody on physical remand and directed investigation officer to produce him on next date of hearing along with progress report booked for smuggling of electronic and mobile accessories goods. On 17 September 2021, investigation officer submits that on an actionable information, customs officials intercepted ... Read More »

SHC seeks comments on petition filed by M/s Ahsan Enterprises for return of security amount

KARACHI: The Sindh High Court (SHC) directed customs officials to make sure filing their respective para wise comments on next date of hearing on a constitutional petition filed by M/s Ahsan Enterprises seeking return of security amount/ pay order for Rs11,25,000 paid during provisional release. On 17 September 2021, a two-member bench, comprising Justice Shafi Muhammad Siddiqui and Justice Agha ... Read More »

NCCPL announces to collect capital gain tax on Sept 24

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) informed all clearing agents that it will collect capital gain tax (CGT) on the disposal of securities for the month of July 2021. The NCCPL will collect the CGT for the period July 01 – July 31, 2021, on Friday, September 24, 2021, through the respective settling banks of the clearing members. ... Read More »

Customs Preventive submits charge sheet against accused in betel nuts smuggling case

KARACHI: Investigation officer of Customs Investigation and Prosecution (I&P) submitted interim charge sheet against Abdul Razzaq son of Muhammad Iqbal and Syed Imran son of Syed Ain Uddin, who were nominated in first information report (FIR) for smuggling of 41, 010 kg betel nuts worth Rs49, 212, 000. On 16 September 2021, during the hearing, investigation officer submits progress report ... Read More »

M/s Usman approaches SHC against detention of imported consignment of polyester textured yarn

KARACHI: M/s Usman has approached the Sindh High Court (SHC) and filed a constitutional petition against holding imported consignment of polyester textured yarn by officials of Customs Appraisement East. On 16 September 2021, counsel for the petitioner states that petitioner has imported a consignment of polyester textured yarn at total invoice value of US$ 26, 022, 36 along with its ... Read More »