201312.29
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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…

201306.06
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Proposed Budgetary Changes in Federal Excise

Section  2      Definitions It is proposed that in section 2, after clause (24), the following new clause be added:- “(24A) “whistleblower” means whistleblower as defined in section 42D of the Federal Excise Act, 2005”   The definition of whistleblower as contained in section 42D is reproduced hereunder for ease of reference:- “For the purpose of…

201303.29
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Updates: SRO222(I)/2013

Federal Government has issued following notifications:- 1) Vide SRO222(I)/2013 dated 15.03.2013, amendment has been made in notification SRO 575(I)/2006 dated 05.06.2006. As per the amending notification, sales tax and customs duty have been exempted on coal mining machinery, equipment, spares including vehicles for site use i.e single or double cabin pick-ups imported for Thar Coal…

201206.29
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Latest Updates

The Federal Government in supersession of earlier announced amnesty scheme notified vide SRO 563(I)/2012 dated 25.05.2012 announced a new amnesty scheme vide SRO 606(I)/2012 dated 01.06.2012 for payment of any amount of sales tax or federal excise outstanding on account of illegal adjustment of input tax credit,  refund, drawback or rebate due to any reason….

201206.29
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SRO 751(I)/2012

Vide SRO 751(I)/2012 dated 18.06.2012 an amendment has bee made by the Federal Government in SRO 522(I)/2012 dated 21.05.2012 extending date for payment of duty and taxes without payment of penal surcharge in respect of un-cleared overstayed bonded goods up to 30th June, 2012. Whole amount of penal surcharge has been waived off till 30.06.2012.

201202.02
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SRO 47(I)/2012 dated 20.01.2012

The Federal Government has issued a notification SRO 47(I)/2012 dated 20.01.2012. By virtue of this notification excise duty on air tickets have been slightly enhanced from the duty already prescribed against Sr. No.3 of Table II of the First Schedule to the Federal Excise Act, 2005