Parliament approves 200% Duty on Pakistani GoodsDate: 09 July 2019 Tags: Bills & Laws
Parliament has adopted statutory resolution for levying 200% duty on all goods originating in or exported from Pakistan. Statutory Resolution is resolution in pursuance of provision in the Constitution or an Act of Parliament. It was moved by Minister of State for Finance Anurag Thakur. It was approved as amendment in first schedule of the Custom Tariff Act in this regard.
Parliament also adopted resolution to increase basic custom duty (BCD) on lentils (masur), boric acid and diagnostic and laboratory reagents. The resolution sought to raise BCD on lentils from 40% to 50%. It hikes duty on boric acid from 17.5% to 27.5% and for diagnostic item from 20% to 30%.
Government had notified the basic custom duty to 200 % on all goods exported from Pakistan with as part of first resolution with effect from 16th February 2019 aftermath of Pulwama terror attack. It had prescribed to insert new tariff item 9806 00 00 under Chapter 98 of First Schedule of the Customs Tariff Act, 1975 to prescribe 200% customs duty on all goods originating in or exported from Pakistan.