The Federal Government vide notification SRO 801(I)/2012 dated 30.06.2012 has amended the Sales Tax Special Procedure Rules, 2007 relating to steel sector. It may be recalled that sales tax on steel melters/re-rollers was increased from Rs.6/- to Rs.8/- in the budget for 2012-13 through notification SRO 592(I)/2012 dated 01.06.2012. The rate has now been reduced…

LCCI has organized a seminar on Punjab Sales Tax on Services Act, 2012 on Friday 20th July, 2012  at 09:30 AM at Amin Hall,  Lahore Chamber of commerce & Industry Building, Shahra-e-Aiwan-e-Tijarat, Lahore. You are cordially invited to attend the subject seminar. Mr. Iftikhar Qutab, Chairman Punjab Revenue Authority will be the Chief Guest / Speaker of the…

FBR has issued two notifications SRO 879(I)/2012 and 880(I)/ 2012 both dated 17.07.2012. Vide these notifications, the condition of mentioning of computerized NIC No. on the sale invoices has been withdrawn with retrospective effect. It means that the condition of mentioning the NIC on the invoices never existed. However, it is very important to point…