Federal Board of Revenue vide its letter C. No. 3(9)ST-L&P/2010 dated 10.08.2011 has extended the date of payment of taxes for the month of July 2011 up to 20.08.2011. Date of filing of Sales Tax/ Federal Excise return has also been extended up to 30.08.2011.
Federal Government vide SRO 727(I)/2011 dated 01.08.2011 has exempted sales tax on import of plant & machinery not manufactured locally and having no compatible local substitute. Procedure for exemption is laid down in the notification. If industrial user imports the said machinery, he will submit post dated cheque equal to the amount of sales tax…
