201508.22
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0

Proposed Budgetary Changes in Islamabad Capital Territory (Tax on Services)

Schedule of taxable services has been revised to make the same at par with the sales tax levied on such services under the respective sales tax on services regimes. The new Schedule is as under: S. No. Description PCT Heading, if applicable Rate of Tax (1) (2) (3) (4) 1 Services provided or rendered by…

201507.29
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2

Changes in the Sales Tax Special Procedure Rules, 2007

Vide SRO 484(I)/2015 dated 30.06.2015, following amendments have been made in the Sales Tax Special Procedure Rules, 2007: 1-      Chapter IX (Special Procedure for Processing of Refund Claims filed by the Persons Engaged in Making Zero-Rated Supply of Ginned Cotton) has been omitted being redundant. 2-      Certain amendments have been made in Chapter XI (Special…

201507.29
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0

Changes in the Sales Tax Rules, 2006

Certain amendments have been made in the Sales Tax Rules 2006 vide SRO 494(I)/2015. Some of the important changes are as under: i)              New rules for registration, de-registration, suspension and blacklisting etc. have been issued. The concept of biometric verification of applicants has been introduced along with other changes e.g. GPS-tagged photographs of the business…

201505.29
0
5

Difference between VAT & GST/Sales Tax

In recent weeks there is lot of discussion and debate as to what is the difference between Value Added Tax (VAT) and General Sales Tax (GST) in the context of Pakistan.  The issue has further been confused by statements emanating from the government high ups who are insisting that VAT is to be introduced w.e.f…