Classification of Goods under the Harmonized System of World Customs Organization (WCO): 

Classification of imports and exports in accordance with the Harmonized System of Classification of WCO is a critical component of assessment of goods. The application of the correct HS Code determines the applicable rate of duty and all consequent aspects of assessments including eligibility for the exemptions and concessions under various notifications including Free Trade Agreements (FTAs).

Ishrat Syndicate indicates the applicable HS Code on the basis of information furnished by clients through invoices, catalogues, test reports and other relevant documents. We provide this service both at the pre-import and post-import stage as and when required by our clients.

Importability of Goods:

In order to preempt any disputes regarding the importability of goods under the Import Policy Order, we analyze details of goods to be imported, their technical specifications and usage and accordingly advise our clients whether there are any restrictions or conditions on the import of certain goods into Pakistan.

Valuation of Goods:

Customs law on valuation provides an elaborate system of valuation based on the WTO Valuation Agreement implemented by Pakistan in 2000.

Determination of Customs value of goods is an important component of the assessment of goods for the determination of leviable amount of Customs duty and other taxes. Valuation disputes are quite frequent as the Customs authorities usually challenge the values declared by importers.

Our consultants assist our clients in this regard by advising them regarding the correct customs value of goods under the Customs Act, 1969. We provide professional assistance to our clients by citing the relevant provisions of Customs law in order to help them establish the correctness of the transaction value.

After the addition of Section 25A to the Customs Act, 1969, Valuation Rulings are frequently issued to fix the values of the imported goods. We help our clients to challenge such values to address their genuine grievances.

Export Trade Advisory:

Exporters frequently face difficulties in availing benefits of various export schemes. Our tax advisors maintain updated information of such concessions and procedures available under various schemes.

Our tax consultants evaluate the nature of clients Business models to advise them if any concessions are available to them under such schemes such as:

  • Duty drawback (Export rebate)
  • Refund or rebate on exports
  • Manufacturing Bond Scheme
  • Other export related schemes like the Duty and Tax Remission on Export (DTRE) and Export Oriented Units. 

Post Clearance Due Diligence Reviews

We conduct post clearance audit reviews for our clients in order to establish whether their Clearing Agents made the correct declaration in the Goods Declaration Form.

Our consultants review the Goods Declaration in the light of the provisions of Import/Export Policy Orders, Customs laws and other applicable regulations. Irregularities, if any, are identified and conveyed to the clients to avoid future disputes or mistakes of a similar nature.

  • Customs law and rules for levy of duty on imports and exports.
  • Classification and valuations of goods under the Customs Act, 1969.
  • Sales tax laws and procedure.
  • Various concessionary schemes notified by FBR so that clients are informed about all concessions available to them.
  • WTO Agreements and their implications for Pakistani importers and exporters.
  • WTO Valuation Agreement as implemented in Pakistan.
  • Export related incentives notified by the Government of Pakistan including the DTRE scheme.
  • Litigation matters before the Adjudication Collectorates, Collectorate of Appeals and Customs Appellate Tribunals.
  • The cases of Classification of goods before the PCT Classification Committee Custom House, Karachi.
  • The Valuation disputes including filing of Revision Petition against Valuation Rulings issued by the Director of Valuation.
  • Licensing matters before the licensing authority of Custom House and its subsequent appeal before the Chief Collector.
  • Meetings with FBR officials at Karachi and Islamabad on matters requiring their necessary intervention.
  • Issues pertaining to Manufacturing Bond / Export Oriented Units.
  • Transit Trade cases.
  • Providing input to clients, on various concessionary regimes under the Sales Tax Law including DTRE, Temporary Importation, Export Oriented Unit and Manufacturing Bond Schemes.
  • Advising clients on issues related to Trade Policy Order.