The Federal Board of Revenue (FBR) has enhanced duty drawback rates, ranging from 1.06 percent of the f.o.b. value to 2.43 percent of the f.o.b. value on the export of finished leather products from September 8, 2015. In this regard, the FBR has issued a notification here on Tuesday.
The duty drawback has been enhanced on the export of finished leather of goat or sheep or kangaroo skin from 0.80 percent of the f.o.b. value to "1.06 percent of the fob value. The duty drawback rate has been increased on the export of finished leather of cow or buffalo or camel hide or side from 1.17 percent of the fob value to 2.38 percent of the fob value.
The duty drawback has been enhanced on the export of finished leather of Cow or buffalo hide or side in finished form furniture or upholstery leather (thickness 2.5mm up to 5mm) from 2.12 percent of the f.o.b. value to 2.43 percent of the fob value. The FBR has authorised repayment of customs duties paid on the importation of the raw materials used in the production or manufacture of the goods specified and exported during the period specified subject to the laid down conditions.
Following is the text of the notification issued here on Tuesday: S.R.O. (I)/2015.-- In exercise of the powers conferred by clause (c) of section 21 of the Customs Act, 1969 (IV of 1969), the Federal Board of Revenue is pleased to direct that the following further amendments shall be made in its Notification No S.R.O. 210(I)/2009, dated the 5th March, 2009, namely:- In the aforesaid Notification, in Schedule I, in column (2), under entry 1, against items (a), (b) and (c), in column (5), for the figures "0.80", "1.17" and "2.12", the figures "1.06", "2.38" and "2.43" shall respectively be substituted.