201109.06
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FBR instructions for filling of Sales Tax & Federal Excise Return

Federal Board of Revenue has issued instructions for filing of Sales Tax & Federal Excise Return. Board has directed manufacturers, importers and exporters to write down CNIC/NTN on the invoices issued to unregistered buyers. This direction is effective from 01.09.2011. This restriction is however not applicable on restaurants, bakers and sweet shops on their retail…

201108.03
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Notification dated 01-08-2011

Federal Government vide SRO 727(I)/2011 dated 01.08.2011 has exempted sales tax on import of plant & machinery not manufactured locally and having no compatible local substitute. Procedure for exemption is laid down in the notification. If industrial user imports the said machinery, he will submit post dated cheque equal to the amount of sales tax…

201106.29
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Exemption of Default Surcharge and Penalties

The Federal Govt. has allowed an amnesty scheme for exemption of default surcharge and penalties provided that the outstanding arrears is paid before 30th June 2011. This amnesty is however, not available in cases of fraudulent refunds and tax frauds. Further Update Federal Board of revenue has issued a clarification vide its letter C. No….