All
Authorised Dealers
in Foreign Exchange,
Dear
Sirs,
DUTY
DRAW BACK AGAINST BCA/BANK CERTIFICATES
It
has been brought to our notice by the Custom authorities
that the banks are not issuing the Bank Credit Advices/Bank
Certificates for claiming duty draw back strictly on the
formats prescribed by the State Bank. They have also pointed
out several irregularities including issuance of bank certificate
for claiming duty draw back against shipment on T.R. basis
and have stated that they will not entertain BCAs/Bank Certificates
lacking (I) running Sr. No.(ii) Phone/Telex/Fax number of
the issuing bank and (iii) these issued on format other
than those prescribed by the State Bank.
2.
In order to avoid any inconvenience to the exporters either
with respect to claiming duty draw back or claiming refund
of import fee, it is emphasized that the Authorized Dealers
should ensure issuance of the BCAs/Bank Certificates on
the prescribed format on their letter head with their running
serial number phone/telex, fax numbers. For guidance, we
are detailing below the nature of the cases and the applicable
format of BCA/Bank Certificate to be issued:-
i.
Where exporters opt to claim duty draw back on realization
of export proceeds or where export has been made on
T.R./consignment sale basis/Advance Payment.
On
the format at Annexure 'A'
to this circular. This will be also used for claiming
refund of import fee.
ii.
Where export has been made against irrevocable letter
of credit or Firm Contracts viz. D.P. or D.A. basis.
On
the format at Annexure 'B'
to this Circular
iii
. Where export has been made under Barter/Loan
Repayment Accounts/Export Credits granted by Pakistan
to various countries.
On
the format at Annexure 'C'
to this Circular. In case of shipments under Barter
or Loan Repayment Account this certificate will be issued
by National Bank of Pakistan only.
3.
Format of certificate for claiming rebate under Letter of
Credit presently in vogue shall be replaced by the format
at Annexure 'B' while BCA at
Annexure 'A' will also be used
for claiming refund of import fee.
4.
Other instructions such as submission of monthly report
to respective Collectorate of Customs in respect of duty
draw back claims obtained on the basis of certificate on
format 'B' above but full proceeds not realized within 120
days or tenor (whichever is later) will continue to be furnished
by then and outstanding cases will be reported to customs
on Annexure 'D' to this Circular.
5.
Please note the above instructions and bring the same to
the notice of your constituents.
Name
of Authorised Dealers
