Amendment in the Sales Tax Special Procedure Rules for Retailers (Jewelers)

Federal Government vide SRO 85(I)/2015 dated 28.01.2015 has made amendments in the Chapter-II (Special Procedure for Payment of Sales Tax by Retailers) of the Sales Tax Special Procedure Rules, 2007.

Through these amendments, these rules have been made applicable on Jewelers as well. While determining the value of taxable supply of a jeweler, he will be entitled to exclude the value of gold or silver used in the supply of jewelry subject to the condition that the assessed value is not less than 10% of the total value of jewelry.