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Updates in Sales Tax Notifications

The following amendments have been made in sales tax notifications:- Vide SRO 152(I)/2013, amendments have been made in SRO 811(I)/2009 dated 19.09.2009. Vide this amendment, the exemption of sales tax available on import and supply of polyethylene and poly proplylene for manufacture of monofilament yarn and net cloth for ¬†greenhouse farming has been withdrawn. This…

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Updates: SRO 172(I)/2013

Federal Government vide SRO 172(I)/2013 dated 05.03.2013 has announced amnesty scheme in respect of non-duty paid/smuggled vehicles. These vehicles are allowed to be regularized on payment of duty and taxes along with 1% redemption fine till 31.03.2013. Under this amnesty, for the vehicles up to 6 year old depreciation will be allowed as under: Passenger…

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Updates: SRO 179(I)/2013

Federal Government has issued SRO 179(I)/2013 dated 07.03.2013 granting amnesty against zero-rated supplies made to doubtful/ dubious registered persons. If a registered person who has issued zero-rated invoice and credentials of his buyers are doubtful, the registered person through a special return, may pay sales tax @2% against such invoices. No default surcharge and penalty…

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Updates: SRO 212(I)/2013

FBR has issued SRO 212(I)/2013 datd 14.03.2013. As per this new SRO, income tax under section 148 shall be charged @ 1% in case of manufacturers and 3% in case of commercial importers of items covered under sales tax notification SRO 1125(I)/2011 dated 31.12.2011. The said SRO i.e 1125(I)/2011 relates to reduced rate of sales…

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Updates: SRO222(I)/2013

Federal Government has issued following notifications:- 1) Vide SRO222(I)/2013 dated 15.03.2013, amendment has been made in notification SRO 575(I)/2006 dated 05.06.2006. As per the amending notification, sales tax and customs duty have been exempted on coal mining machinery, equipment, spares including vehicles for site use i.e single or double cabin pick-ups imported for Thar Coal…