What is INPUT/OUTPUT C0-EFFICIENT ORGANISATION (IOCO) : |
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| SCOPE & FUNCTIONS 1. Fixation of Duty drawback rates regarding: -Custom Duties -Sales Tax -Federal Excise Duties 2. Rationalize the duty drawback regime. 3. Systematically estimate and update the actual Input Output Coefficients. 4. Determine Input Output Ratios and wastages in DTRE application |
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| Powers and functions of IOCO: | ||
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Functions of IOCO: |
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| Documents Submitted by Exporter For Fixation/Revision: | ||
| 1.Copies Of Import Evidences Like G.D, Bill of Lading Commercial Invoice etc. Of Input Material. 2.Copies Of Export Evidences Likes Shipping Bill,Commercial Invoices etc. Of Product Exported 3.Worksheet regarding Input/Output ratios Of The Product. |
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| Fixation of Duty Drawback of a new Product for determination/Revision of existing product by a Trade Association | ||
| Any trade association applying for standard rate of duty drawback for their exported items shall apply to the Director of IOCO through an application with the Form "A" and respective documents duly attached with it.The Director may call for any further information or make any addition to the particulars of the application. The Association should also specify the complete calculations in accordance with the method of calculation and shall also submit the respective worksheets, duly signed by the manufacturer or producer,at the time of submission of the application. | ||
| Fixation Duty Drawback af a new Product: | ||
| If the application is made by an individual Exporter or Producer to IOCO regarding the duty drawback, then the IOCO recomends the rate to be fix the FBR through an Standard Notification fixation. The application of such an individual shall be processed in the same manner as that for an Association/Exporter/Chamber/FPCCI. | ||
| Application/Revision/Determination of existing Duty Draw Back: | ||
| The Director on receipt of the application shall send the same to the concerned Sector Specialist. If the Sector Specialist is satisfied with the method of calculation and other particulars contained in the application, then he shall accordingly inform the Director within fifteen days from the date of submission of the application. If the Director is satisfied with the findings of the Sector Specialist in the recieved report, he shall inform the Association/Exporter/Chamber/FPCCI in writing the proposed rates of repayment of custom-duties and the date fixed for meeting. If the method of calculation proposed by the Association/Exporter/Chamber/FPCCI, is not the agreed method by the Sector Specialist he shall inform the Director accordingly with his reasons in writing. On receiving the Director shall fix a date of the meeting and inform the Association in writing, the reasons recorded by the Sector Specialist. |
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| Dispute Between the Exporter/IOCO Duty Regarding DrawBack proposed rates: | ||
| Incase the Association\Exporter\Chamber\FPCCI has no objection regarding the determination of the calculation of input to output ratio, and the proposed rates of drawback of custom duties, the Director Shall forward the draft Notification to be issue FBR Incase of dispute, the FBR shall after hearing the Association\Exporter\Chamber\FPCCI, record the reasons in writing which shall be communicated to the Association\Exporter\Chamber\FPCCI.Then the Director shall determine the input materials and forward a draft Notification to be issued by FBR for the issuance of a Notification and providing supporting input output data for the rates so proposed. |
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| Processing of Revision of Notifications: | ||
For the revision of rates, the Director/Sector Specialist of the IOCO shall inform the respective Association/Exporter/Chamber/FPCCI of the method of calculation adopted for determining the Custom-duty repayment or drawback rates for their comments and active participation. If the respective Association do not cooperate in providing timely and verifiable data or information or agreement to the Director, he may decide the method of calculation in consultation with the concerned Sector Specialist and proceed to determine the input materials and propose the revision of rates of repayment of custom duties through a Notification to be issued by FBR after mutual agreement and incase of dispute the duty drawback may be notified by FBR as deemed appropriate.
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