All imported articles invite import taxes, even those having been previously exported (except special mention envisaged in the Tariff and Customs Code or another regulation). The entry form must be filled in at the Customs Office in the 30 days following the unloading of the last package, failing to do which amounts to an abandonment of the goods and ipso facto confiscation of the cargo.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we will be learning about the basic concepts and important definitions under the Customs Act, 1962.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the types customs duty levied and the duty drawback allowed under the customs law.
All imported articles invite import taxes, even those having been previously exported (except special mention envisaged in the Tariff and Customs Code or another regulation). The entry form must be filled in at the Customs Office in the 30 days following the unloading of the last package, failing to do which amounts to an abandonment of the goods and ipso facto confiscation of the cargo.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we will be learning about the basic concepts and important definitions under the Customs Act, 1962.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the types customs duty levied and the duty drawback allowed under the customs law.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the provisions relating to import and export of goods under the customs law.
Procedures to claim refund, rebate and duty drawback under customsDVSResearchFoundatio
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the procedures to be followed while claiming refunds, rebate and duty drawback under customs law.
Import and Export Financing-Forms and Methods with Alternative financing technique (EDF, International Factoring, Bonded Warehouse Faculty, Duty Draw back facility, UPAS LC) business case solution, in relation with Rupali Bank Ltd. International Business.
OBJECTIVE
Customs duty is an indirect tax, which is a tax on the goods and not a tax on the person having or owning the goods.In this webinar, we shall know when an assessment can be made and when shall an appeal be made before a commissioner, High Court and Supreme Court.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the provisions relating to import and export of goods under the customs law.
Procedures to claim refund, rebate and duty drawback under customsDVSResearchFoundatio
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the procedures to be followed while claiming refunds, rebate and duty drawback under customs law.
Import and Export Financing-Forms and Methods with Alternative financing technique (EDF, International Factoring, Bonded Warehouse Faculty, Duty Draw back facility, UPAS LC) business case solution, in relation with Rupali Bank Ltd. International Business.
OBJECTIVE
Customs duty is an indirect tax, which is a tax on the goods and not a tax on the person having or owning the goods.In this webinar, we shall know when an assessment can be made and when shall an appeal be made before a commissioner, High Court and Supreme Court.
This presentation explains that what are the types of appeals in courts, procedure of making appeals. Useful for Commerce, Business and Law students to understand the appeals procedure.
Sometimes a taxpayer is not satisfied with the orders of any income tax I authority or even any income tax authority does not agree with the orders passed by any appellate authority. In such cases Income Tax Ordinance, 2001 gives the right of appeal to the aggrieved party. A detailed procedure is also given in the law. It should be remembered that appeal cannot be made against every order. I Appeal can only be made in those cases which are allowed under the Ordinance.
Objectives & Agenda :
This webinar shall throw some with regards to the revision and rectification of orders passed by the income tax authorities. It shall look upon the orders which cannot be revised. This webinar shall also explain the procedure involved in the revision of an order.
These slides will give overview of the Debt Recovery Tribunal and its Working of the Tribunal. Further it will help in understanding the requirements for filing an application under the Act.
Entrepreneurship plastic-recycling-projectZohaib Ahmed
This is a small business plan for entrepeneurship.......
The purpose of the Recycling Plastic Plan is to provide resources which seeks to meet the day to day need of plastic consumable,
The growing utilization of plastic in industrial and consumer applications, combined with increased consumer awareness surrounding solid waste recycling, has lead to increase demand for recycled plastic materials for recycling
Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division.
This presentation basically on the Zakat and Ushr Ordinance,1980.
which has the following contents..........
-Some Definition
- Charge and collection of Zakat
- Charge and collection of Ushr
- Mode of assessment and collection of Ushr
- Establishment of Zakat Funds
- Utilization of Zakat Funds
and many more topics as a helping material.
Entrepreneurship presentation on projectZohaib Ahmed
We did opportunity analysis and after gathering detailed information we came to result of opening Gaming Zone. We decided the name of our gaming zone which is “Youth Fun Land”. We then conducted the industry analysis, environmental analysis and competitor analysis of our business. So the industry of gaming zone business is not very much famous in Pakistan but know people are getting awareness about it. Through competitor analysis we get to know the strengths, weaknesses, threats and opportunity of our business and our competitors as well. We made the marketing plan for the successful promotion and made marketing budget as well. In operational and production plan we showed the assets, games and technology we need for our business to generate services and the number of employees needed as well. We have also showed our expected suppliers and in financial plan we have showed all the related information of sources and usage of capital and the capital raised through partner’s contribution and loans as well.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
A "File Trademark" is a legal term referring to the registration of a unique symbol, logo, or name used to identify and distinguish products or services. This process provides legal protection, granting exclusive rights to the trademark owner, and helps prevent unauthorized use by competitors.
Visit Now: https://www.tumblr.com/trademark-quick/751620857551634432/ensure-legal-protection-file-your-trademark-with?source=share
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
1. LEVY OF EXEMPTION FROM AND
REPAYMENT OF CUSTOMS DUTIES
Goods dutiable
Levy of customs duties
Rates of duty and taxes and determination of
origin under trade agreements.
Levy of fee and service charges
Minimal duties not to be demanded
2. It is levied at the rate not exceeding
the Federal Excise duty(15%)
Levi able under the Federal excise act
2005 on the goods manufactured and
produced in PAKISTAN.
3. GOODS DUTIABLE
Goods imported in PAKISTAN.
Goods brought in bond from one
custom station to another.
Goods brought from any foreign
country to any customs station.
Goods transported to any one
custom station.
4. Levy of customs duties
Custom duty shall be levied describe in
fifth schedule.
No exports duty shall be levied on the
goods exported from PAKISTAN.
5. EXEMPTION FROM CUSTOM DUTY
The federal government may exempt from the whole or any part of
the custom duties chargeable on any of the following good:
Goods imported to PAKISTAN.
Goods exported from PAKISTAN.
Goods imported into any specified area ,port or station.
Goods under exported from any specified area, port and station.
Goods under circumstances of exceptional nature.
6. REPAYMENT OF CUSTOM DUTY
The Board may authorize:
The delivery without payment of custom duties chargeable thereon
of goods which ae imported only temporarily with a view to
subsequent exportation.
Repayment is made for the goods which have been used in
production,manufacture,processing or repair of goods that are
meant for exportation.
7. FEE AND SERVICE CHARGES
The govt may levy fee and service charges by giving the
notification in the official gazette.
The rates for fee charges will also specified in the notification.
The govt may impose such conditions, limitations and restrictions as
it may deem fit to impose.
The charges may be levied for examination, scanning
,inspection,sealing,de-sealingvaluation check.
9. Power of Adjudication
Cases involving confiscation of goods or recovery of duty and
other taxes
i. Collector no limit
ii. Additional Collector not exceeding three million rupees
iii. Deputy Collector not exceeding not exceeding one million
rupees
iv. Assistant Collector not exceeding five hundred thousand rupees
v. Superintendent not exceeding fifty thousand rupees
vi. Principal Appraiser not exceeding fifty thousand rupees
10. Power of Adjudication
Board may fix or vary the jurisdiction and powers
The cases shall be decided within ninety days of the issuance.
The Board shall have the powers to regulate the system of
adjudication
11. Appeals to Collector
1. Appeals within thirty days
2. Verification of Appeals
3. Fees shall be paid
12. Procedure in Appeal
1. Opportunity to the appellant
2. Ground of appeal
3. Period of inquiry
4. Disposal of Appeal
14. Functioning of the Appellate
Tribunal
The Chairman of the Appellate Tribunal may constitute benches
to perform the functions of Tribunal.
15. Appeals to the Appellate Tribunal
1. Appeal to the Appellate Tribunal
i. A decision or order passed by an officer of customs not below the
rank of Additional collector.
ii. An order passed by the collector
iii. It stood immediately before the appointed day.
iv. An order passed by the Board.
v. And order passed in revision by the Director General Customs
Valuation.
16. Appeals to the Appellate Tribunal
2. Aggrieved by an order passed by the Collector.
3. Shall be filed within sixty days of the communication of the disputed
order.
4. On receipt of notice that an appeal has been filed, the other party
may file within thirty days.
5. The (AT) may admit an appeal or permit the filing of a memorandum
of cross-objections after the expiry of the relevant period.
6. (AT) shall be in such form and shall be verified in such mannar as
may be specified by rules accompanied by a fee of one thousand
rupees.
7. All cases pending immediately before the commencement of the
Finance Ordinance, with the Collector shalll stand transferred to the
(AT) for disposal in accordance with law.
17. Features of Appeal to the AT
1. The appeal should be filed within sixty days form the date on which
the orders are communicated.
2. The appeal should be filed on the prescribed form and manner.
3. An appeal must accompany a fee of one thousand rupees.
4. The (AT) gives parties to appeal an opportunity of being heard.
5. The appeal is heard by a single member if the amount of fine or
penalty involved does not exceed one thousand rupees. In other
cases, a Special Bench hears the appeals.
18. Features of Appeal to the AT
6. The (AT) in disposing of an appeal may:
a) Pass such orders as he thinks fit.
b) Confirming, modifying or annulling the decision.
c) Refer the case back to the authority which passed
such decision for a fresh adjudication or decision.
d) Increase the assessment.
e) Reduce the assessment.
f) Issue directions to the authority.
7. It is necessary that the decision of appeal should be
made within six months in which the appeal has
been made.
19. Orders of AT
1. (AT) being heard, pass such orders thereon as it thinks fit confirming,
modifying or annulling the decision or order appealed against.
2. The (AT) at any time within one year from the date of order with a
view of rectifying any mistake apparent from the record, amend any
order passed by it under sub section (1) and shall make such
amendments if the mistake is brought to its notice by the Collector of
customs or the other party to the appeal
3. The (AT) shall send a copy of every order passed by it under this
section, disposing of an appeal, to the Officer of Customs and in
valuation cases also to the Controller, Valuation, and the other party
to the appeal.
4. Save as otherwise expressly provided in Section 196 an order passed
by the (AT) in appeal shall be final.
20. Procedure of Appellate Tribunal
1. (AT) may be exercised and discharged by Benches constituted by
the Chairman from amongst the members thereof.
2. Subject to the provisions contained in sub-sections (3) and (4), a
Bench shall consist of one judicial member and one technical
member.
3. Every appeal against a decision shall be heard by a Special Bench
constituted by the Chairman for hearing such appeals and such
Bench shall consist of not less than two members and shall include
at least one judicial member and one technical member.
4. (AT) shall have power to regulate its own procedure and the
procedure of the Benches thereof in all matters arising out of the
exercise of its power or of the discharge of its functions.
21. Procedure of Appellate Tribunal
5. (a) discovery and inspection.
(b) enforcing the attendance of any person and examining him
on oath;
(c) compelling the production of books of account and other
documents; and
(d) issuing commissions.
6. Any proceedings before the (AT) shall be deemed to be judicial
proceeding within the meaning of sections 193 and 228 and for
the purpose of section 196 of the Pakistan Penal Code (Act XLV of
1860), and the (AT) shall be deemed to be a court for all the
purposes of sections 480 and 482 of the code of Criminal
Procedure, 1898 (Act V of 1898).
22. Reference to High Court
1. Within ninety days of the date on which the aggrieved person or
Collector or Director of Intelligence and investigation or Director of
Valuation, as the case may be, was served with order of the (AT)
under the sub section (3) of section 194B.
2. The statement to the High Court, referred to in sub-section(1), shall
set out the facts, the determination of the (AT) and the question of
law, which arises out of such order.
3. Where a question of law arises out of the order, referred to in sub-
section (1), it may proceed to hear the case.
23. Reference to High Court
4. A reference to the High Court shall be heard by
a bench of not less than two judges of the High
Court.
5. The High Court upon hearing a reference under
this section shall decide the question of law
raised by the reference and pass judgment
thereon specifying the grounds on which such
judgment is based and the Tribunal’ s order shall
stand modified accordingly.
6. Where a reference has been made to the High
Court the duty shall be payable in accordance
with the order of the (AT).
24. Reference to High Court
7. Where recovery of duty has been stayed by the
High Court by an order, such order shall cease to
have effect on the expiration of a period of six
months following the day on which it is made unless
the reference is decided, or such order is withdrawn
by the High Court earlier.
8. Section 5 of the Limitation Act, 1908 (IX of 1908),
shall apply to an application made to the High
Court under sub-section (1).
9. An application under sub-section(1) by a person, or
such officer as authorized by the Collector shall be
accompanied by a fee of one hundred rupees.