Vide SRO 492(I)/2016 dated 30.06.2016, FBR has fixed value of white crystalline sugar for import and local supplies as under: (i) Import US$ 725 per MT. (ii) Locally produced sugar Rs. 56 per Kg. The notification will take effective from 01.07.2016.
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…
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…
Vide SRO 489(I)/2016 dated 30.06.2016, the following notifications have been rescinded:- i) SRO 115(I)/2008, dated the 6th February, 2008 relating to exemption of sales tax on imports and supply of materials and equipments for construction and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…
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…
Vide SRO 487(I)/2016 dated 30.06.2016, amendments have been made in sales tax notification SRO 648(I)/2013 dated 09.07.2013 relating to exemption of further tax. Through this amendment, a new S.No.7 has been added under which second hand worn clothing and other worn articles falling under PCT heading 6309.000 have been exempted from further tax of 2%,…
Vide SRO 486(I)/2016 dated 30.06.2016, notification SRO 473(I)/2016 dated 03.06.2016 relating to rate of excise duty on cigarettes has been rescinded.
Vide SRO 485(I)/2016 dated 29.06.2016, Federal Government has made an amendment in SRO 482(I)/2009 dated 13.06.2009 (Regulatory Duty on Import of non-essential and luxury items). It has been clarified that value of bullet proof vehicles for levy of regulatory duty shall be the same as assessed under SRO 1121(I)/2007 dated 17.11.2007.
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…
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.
