201607.02
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New scheme for 5 Export Oriented Sectors

Vide SRO 491(I)/2016 dated 30.06.2016, a new scheme for 5 Export Oriented Sector has been introduced. i)          Generally, in case of supplies from registered persons to registered is zero percent subject to exception contained in the table in the provided SRO. ii)         Adjustments of input tax, if any paid will be available; however, input tax…

201607.02
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0

Change in the rates of sales tax on petroleum products

Vide SRO 490(I)/2016 dated 30.06.2016, rates of sales tax on petroleum products have been revised as under:- S.No. Description PCT heading Rate (1) (2) (3) (4) 1. Motor  spirit excluding HOBC. 2710.1210 17% ad valorem 2. HOBC. 2710.1210 17% ad valorem 3. Kerosene. 2710.1911 7% ad valorem 4. High speed diesel oil. 2710.1931 28% ad…

201607.02
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0

Rescission of SRO 115(I)/2008, dated the 6th February, 2008 and SRO 212(I)/2014, dated the 26th March, 2014

Vide SRO 489(I)/2016 dated 30.06.2016, the following notifications have been rescinded:- i) SRO 115(I)/2008, dated the 6th February, 2008 relating to exemption of sales tax on imports and supply of materials and equipments for construction and operation of Gawadar Port and development of Free Zone for Gawadar Port and Ship Bunker Oils bought and sold…

201607.02
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0

Change in the rate of sales tax applicable to retailers and specification of Special Procedure for Payment of Sales Tax by the Marble Industry

SRO 488(I)/2016 dated 30.06.2016 has been issued to allow retailers to pay sales tax @ 2% of their total turnover instead of 17% at present payable/chargeable. The retailers are required to give option to pay tax @ 2% to the Chief Commissioner concerned by 15th day of July, 2016. The total turnover, on which the…

201606.30
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0

Amendments in SRO 693(I)/2006 dated 01.06.2006 (Additional Customs Duty on import of automotive parts / components)

by in Customs

Vide SRO 484(I)/2016 dated 29.06.2016, Federal Government has made following amendments in SRO 693(I)/2006 dated 01.06.2006 (Additional Customs Duty on import of automotive parts / components). (a)  Rates of concessionary duty has been revised; (b) Separate entries / rates have been prescribed for different class of vehicles. (c)  Certain new conditions have been introduced to…

201606.30
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0

Amendments in SRO 656(I)/2006 dated 22.06.2006 (Exemption from Customs Duty for OEMs of Automotive Sector)

by in Customs

Vide SRO 483(I)/2016 dated 29.06.2016, Federal Government has made following amendments in SRO 656(I)/2006 dated 22.06.2006 (Exemption from Customs Duty for OEMs of Automotive Sector). (a)  Rates of concessionary duty has been slightly increased; (b) Certain new categories have been introduced. (c) Certain new conditions have been introduced to implement Automotive Development Policy 2016-21.

201606.30
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Amendments in SRO 655(I)/2006 dated 22.06.2006 (Exemption from Customs Duty for Vendors of Automotive Sector)

by in Customs

Vide SRO 482(I)/2016 dated 29.06.2016, Federal Government has made following amendments in SRO 655(I)/2006 dated 22.06.2006 (Exemption from Customs Duty for Vendors of Automotive Sector). (a)  Rate of concessionary customs duty has been revised upwards. (b) Concession available to bicycle manufacturers has been withdrawn. (c)  Separate concessionary rates have been prescribed for auto-rickshaws, 3-wheeler cargo…