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15/11/2021
15/11/2021

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday announced to waive a penal surcharge on overstayed goods at the warehouses.
The FBR issued SRO 1399(I)/2021 dated October 27, 2021 in this regard.
The FBR said it decided to remit the penal surcharge in the case of goods cleared from the warehouse within 30 days starting from the date of commencement of the notification.
The tax authorities also extended the existing warehousing period of already in-bonded goods for a further period of 30 days from the date of commencement of the notification.
However, the facility under the notification would not apply to the goods which have since been abandoned or auctioned under the Customs Act, 1969.

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