Vide SRO 36(I)/2017 dated 23.01.2017, Federal Government has made amendments in SRO 1125(I)/2011, dated 31.12.2011. Following amendments have been made in the notification: – (a) Textile units registered with Ministry of Textile will be entitled to import machinery @zero% sales tax subject to the conditions that the machinery is not manufactured locally and conditions of…
Federal Board of Revenue has issued procedure for grant of zero-rating on purchase of Furnace Oil, Diesel Oil and Coal in terms of SRO 1125(I)/2011 dated 31.12.2011. FBR has issued Sales Tax General Order No. 107 of 2016 dated 20.09.2016. STGO is a cyclostyle copy of STGO 117 of 2015 dated 14.07.2015 issued for specifying…
Section 2(14) of the Sales Tax Act, 1990 has been amended by the Tax Laws (Amendment) Ordinance, 2016. By virtue of the amendment, input tax adjustment in respect of sales tax paid on services has been allowed.
Dear Clients, It is informed that an agreement has been singed today between the Federal Government and SRB for allowing input tax adjustment of sales tax paid on services. Similar agreement is expected today with PRA as well. Ordinance and requisite notification are likely to be issued by 1st September, 2016.
Vide SRO 500(I)/2016, dated 30.07.2016, the Federal Government has specified new rates of sales tax for petroleum products w.e.f. 01.08.2016. The new rates are as under:- S.No. Description PCT heading Sales Tax Rates 1. Motor spirit excluding HOBC 2710.1210 17% ad valorem 2. HOBC 2710.1210 17% ad valorem 3. Kerosene 2710.1911 5% ad valorem 4….
The Federal Government has extended the date of payment of sales tax and federal excise duty from 15.07.2016 to 18.07.2016 and the date of submission of sales tax and federal excise return from 18.07.2016 to 21.07.2016 for the tax period of June, 2016.
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.