The Federal Board of Revenue has announced amnesty scheme for payment of any amount of sales tax or federal excise outstanding on account of any audit observation, audit report, show cause notice or any adjudication order, or who has failed to pay any amount of sales tax or federal excise duty or claimed inadmissible input…
The Federal Board of Revenue has announced amnesty scheme for payment of any amount of sales tax or federal excise outstanding on account of illegal adjustment of input tax credit, adjustment, refund. drawback or rebate due to any reason. Whole amount of default surcharge and penalty shall be waived off, if the principal amount is…
Federal Government has issued a notification SRO 564(I)/2012 dated 26.05.2012 to amend its notification SRO 647(I)/2007 dated 27.06.2007. Now a taxpayer registered as wholesaler shall not be allowed to adjust input tax in excess of ninety per cent of the output tax for that tax period. However, this facility will be still available to distributors…
