Amnesty Schemes for payment of Sales Tax or Excise

The Federal Board of Revenue has announced amnesty scheme for payment of any amount of sales tax or federal excise outstanding on account of any audit observation, audit report, show cause notice or any adjudication order, or who has failed to pay any amount of sales tax or federal excise duty or claimed inadmissible input tax credit, adjustment, refund. drawback or rebate due to any reason. Whole amount of default surcharge and penalty shall be waived off, if the principal amount is paid till 31.05.2012. Taxpayer will also be entitled to claim refund of the amount paid under this amnesty scheme in consequence of a favourable decision. This amnesty, however, shall not be available in cases of tax fraud or fraudulent refunds.