Federal Government has issued a notification No. SRO____/(I)/2014 dated 26.01.2014. Through this notification Federal Government has notified that input tax paid on services liable to provincial sales tax shall be treated as input tax for the purposes of the Sales Tax Act, 1990. This notification has been made effective from 01.07.2013. Issuance of this SRO…
Government of Punjab vide its Notification No. SO(TAX)1-1/2013-14 dated 13.05.2014 has made an amendment in the Second Schedule (Taxable Services) of the Punjab Sales Tax on Services Act, 2012. Through this amendment sales tax @16% levied on services provided by a foreign exchange dealer or exchange company or money changer classifiable under heading 9813.9000 and…
PROPOSED CHANGES IN THE PUNJAB SALES TAX ON SERVICES ACT, 2012 THROUGH FINANCE BILL 2014-15 Section 2 Definitions In clause (29) “Person”, an amendment has been made and now ‘Association of person (AOP) ” is proposed to be included in the definition of ‘person’ In clause (38) Service or services, an amendment has been made…
Governor of the Punjab has issued notification No. SO(TAX) 1-2/97 (Exemption Newspapers) dated 23.09.2014 to withdraw sales tax on advertisements in newspapers, magazines, journals and periodicals including classified ads.
Punjab Revenue Authority has issued new withholding rules. By virtue of new rules certain features have been changed including withholding agents. These changes are as under: 1- Following persons are also declared as withholding agent in addition to earlier categories: a- All companies b- Registered persons receiving taxable services from unregistered persons. 2- Insurance services…
Schedule of taxable services has been revised to make the same at par with the sales tax levied on such services under the respective sales tax on services regimes. The new Schedule is as under: S. No. Description PCT Heading, if applicable Rate of Tax (1) (2) (3) (4) 1 Services provided or rendered by…
The following changes have been made by Punjab Revenue Authority in the taxation regime of services:- 1) Vide S.No.6 of the Second Schedule to the Punjab Sales Tax on Services Act, 2012, internet services were exempt from sales tax. These have now been subjected to sales tax vide SRO No.SO(TAX)101/2014-15 (Vol-I) dated 28.05.2015, except the…
Federal Board of Revenue vide its letter C. No. 3(9)ST-L&P/2010-112693 dated 17.08.2015 has extended the date of submission of return up to 21.08.2015. However, date of payment of sales tax has not been extended. The date of payment for the month of July-2015 shall remain the same as 17.08.2015 (15.08.2015 and 16.08.2015 were falling on…
