Latest Updates

• The Federal Government in supersession of earlier announced amnesty scheme notified vide SRO 563(I)/2012 dated 25.05.2012 announced a new amnesty scheme vide SRO 606(I)/2012 dated 01.06.2012 for payment of any amount of sales tax or federal excise outstanding on account of illegal adjustment of input tax credit,  refund, drawback or rebate due to any reason. Whole amount of default surcharge and penalty shall be waived off, subject to the condition that the principal amount is paid till 25.06.2012 and taxpayer also withdraws any case, complaint or proceedings filed by the registered person before any court of law, FTO or any other authority before 25.06.2012. It is further assured that criminal proceedings lodged by the department shall also abate from the date of compliance of the above conditions by the registered person.
• The Federal Government vide SRO 608(I)/2012 dated 01.06.2012 has announced that on import and local supplies of black tea sales tax shall be charged on a reduced rate of 5% instead of standard rate of 16% sales tax.