201507.01
0
0

Rescinding of SROs

Vide SRO 490(I)/2015 dated 30.06.2015, the following FED notifications have been rescinded: i)                    SRO 778(I)/2006, dated the 1st August, 2006 (Exemption on international travel by air to certain persons); ii)                  SRO 474(I)/2009, dated the 13th June, 2009 (Exemption on motor cars, banking companies in respect of certain services and white cement); iii)                SRO 802(I)/2009, dated…

201506.08
0
0

Increase of Excise duty on cigarettes

Federal Board of Revenue has issued SRO 481(I)/2015 dated 05.06.2015 wherein excise duty on locally manufactured cigarettes has been increased as under: Sr. No. Description of goods New rate of duty  1 Locally produced cigarettes if their on-pack printed retail price exceeds rupees three thousand three hundred and fifty per thousand cigarettes. Rs.3,030/- per thousand cigarettes…

201409.25
0
0

Selection of Cases for Audit for Tax Year 2013 by FBR through Computer Ballot

FBR on 25.09.2014 has selected following number of taxpayers for audit through random computer ballot. Income Tax Corporate                                    1,876 cases Income Tax Non-Corporate                        62,962 cases Sales Tax Corporate                                        1,410 cases Sales Tax Non-Corporate                            11,095 cases Federal Excise Corporate                             …

201406.05
0
0

Increase in Federal Excise Duty on Cigarettes

Federal Board of Revenue has issued SRO 422(I)/2004 to give immediate effect to the proposed enhancement of Federal Excise duty on Cigarettes vide Finance Bill, 2015. These rates have been made effective from 04.06.2014. The new rates of federal excise duty on cigarettes are as under:- TABLE S. No. Description PCT heading Rate of Duty…

201312.29
0
0

Amendment in SRO 77(I)/2013 (Federal Excise Act,2005)

Federal Government has issued SRO 1072(I)/2013 dated 27.12.2013 whereby amendments have been made in its notification No. SRO 77(I)/2013 dated 07.02.2013. It may be recalled that SRO 77(I)/2013 relates to concessionary rate of excise duty on local supply equivalent to the sugar exported by sugar mills. After this amendment, the concessionary rate of duty has…