Imports S148

Question 1

Are there any imported items for which value (for tax application) is other than customs assessed value

Answer 1

Sales Tax IIIrd Schedule items (retail items)

Value = Retail Price

Question 2

When is imports FTR regime

Answer 2

No

Question 3

What are Regimes of Imports

Answer 3

NTR - Goods taxed at 1%, 2% (lower rate, P1 12th Sch); imported by industrial undertaking; for own use

MTR - All other

Question 4

Is Raw Material imported by Manufacturer is NTR

Answer 4

if Taxed at 5.5% (PIII of XII Sc) ie. noramal items - MTR

if Taxed at 1% or 2% (PI or PII of XII Sc) ie. specific listed items - NTR

Question 5

Rates for imports

Answer 5

Manufacturer - General 5.5% - MTR

Manufacturer - PI of 12 Sch 1% - NTR

Manufacturer - PII of 12 Sch 2% - NTR

Commercial Importer - 5.5%-MTR