GOVERNMENT OF PAKISTAN

MINISTER OF FINANCE, ECONOMIC AFFAIRS STATISTIC AND REVENUE

(REVENUE DIVISION)

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Islamabad, the 14^th  January, 2005

NOTIFICATION

(Central Excise)

                        S.R.O. 54(I)/2005.—In exercise of the powers conferred by sub-section (1) of section 12A of the Central Excises Act, 1944 (I of 1944), the Federal Government is pleased to exempt, the whole of central excise duty leviable on import stage, on 33791 M/tons (thirty three thousand seven hundred and ninety one metric tons) of crude degummed soyabean oil being imported by Trading Corporation of Pakistan, on behalf of the Finance Division, Government of Pakistan, out of Third Non-Project Grant Assistance (NPGA), in accordance with the agreement signed between the Government of Pakistan and the Government of Japan.

2.                     This exemption is being granted subject to the condition that the aforesaid soyabean oil shall only be sold or auctioned to the persons duly registered under the Sales Tax Act, 1990 and particulars of the buyers as per the format given below shall be communicated to the Collector of Sales Tax having jurisdiction over the registered buyer, with a copy to the Central Board of Revenue without delay:-

S.No.

Name of buyer with Address

Sales Tax Reg. No.

Date of Auction

Quantity with rate

Total Amount

3.                     Further that the imported crude degummed soyabean oil shall not be sold or disposed of without prior approval of the Central Board of Revenue and without payment of due central excise duty.

4.                     In case of non-compliance of any of the aforesaid conditions, whole of central excise duty shall be charged in addition to penal action so warranted under the Central Excises Act, 1944.

5.                     This exemption is exclusively meant for levy of central excise duty on import stage only.

[C.No.1(4)STT/2001]

(Shahid Ahmad)

Additional Secretary