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Vide SRO 489(I)/2016 dated 30.06.2016, the following notifications have been rescinded:- i) SRO 115(I)/2008, dated the 6th February, 2008 relating to exemption of sales tax on imports and supply of materials and equipments for construction and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%,…
The proposed changes can be accessed here: http://akhtarali.com/wp-content/uploads/2016/06/Changes-in-the-Sales-Tax-Act-1990.docx
Vide SRO 1198(I)/2015 dated 03.12.2015, Federal Government has issued “Special Procedure for Adjustment of Sales Tax due on Fertilizers Rules, 2015” prescribing procedure for adjustment of sales tax on account of subsidy announced by Federal Government on supply of Phosphatic fertilizer. Fertilizer manufacturer / importer is required to provide complete details of sales showing NTN…
Vide SRO 1175(I)/2015 dated 30.11.2015 certain amendments have been made in SRO 577(I)/2005 dated 06.06.2005. Through these amendments, fixed rate of duty and taxes on vehicles of engine capacity up to 1800cc has been increased w.e.f. 01.12.2015. New rates of duty and taxes are as under: Sr. No. Automotive vehicles of Asian makes meant for…
Vide SRO 1180(I)/2015 dated 30.11.2015, Federal Government has amended. SRO 383(I)/2015 dated 30.04.2015 and rates of the petroleum products have been revised w.e.f. 01.12.2015. New rates are as under:– Sr. No. Description Old Rate of Sales Tax New Rate of Sales Tax 1 Motor Spirit excluding HOBC 22% 24% 2 HOBC 16.5% 16.5% 3…
The Federal Board of Revenue has extended the date of submission of Sales Tax/Federal Excise return and payment of sales tax and federal excise duty due upto 28th September, 2015 for the tax period August 2015, for all registered persons vide its Letter C. No. 3(9)ST-L&P/2010-131070-R dated 21.09.2015. A copy of the letter can be…
