Amendment in SRO 490(I)/2004 dated 12.06.2004

Federal Government vide SRO ____(I)/2014 dated 28.02.2014 has made amendment in SRO 490(I)/2004 dated 12.06.2004. Through this amendment, Federal Government has introduced capping of adjustment on aerated water manufacturers. Now aerated water manufacturers can only adjust 72% of their output tax liabilities against their input tax. Excess amount will be carried forward to the next period and aerated water manufacturers will not be entitled for any rfund on this account.