Federal Board of Revenue vide its letter C. No. 3(9)ST-L&P/2010-112693 dated 17.08.2015 has extended the date of submission of return up to 21.08.2015. However, date of payment of sales tax has not been extended. The date of payment for the month of July-2015 shall remain the same as 17.08.2015 (15.08.2015 and 16.08.2015 were falling on…
Sindh High Court has stayed the payment of Income Support Levy for the taxpayers who filed writ against the levy. Writs have also been filed in the Lahore High Court where the matter is at present pending, including the requests for grant of stay. It is suggested that all clients who want to challenge the…
Vide SRO565(I)2014 dated 26.06.2014, substantial changes have been made in SRO565(I)2006 dated 5th June 2006. Number of items eligible to concessionary rate of duty has been reduced to 59. The previous SRO covered more than 157 items. Treatment of each concession may be individually examined and queries, if any, may be raised. Main features of…
Vide SRO 188(I)/2015 dated 05.03.2015 Federal Government has introduced Chapter XV ” Special Procedure for Sales Tax on Cottonseed Oil Expelled by Oil Expelling Mills and Composite Units of Ginning and Expelling” in the Sales Tax Special Procedure Rules, 2007. Salient features of the rules are as under: 1- Sales tax shall be levied @…
Federal Government vide its notification No. SRO 254(I)/2015 dated 30.03.2015 imposed 25% regulatory duty on import of wheat, Wheat Flour(Aatta), Maida and Semolina (Suji). Previously only import of wheat was subjec to 20% regulatory duty on its imports.
Federal Government vide SRO383(I)/2015 dated 30.04.2015 has again revised rate of sales tax on import and local supply of petroleum products. These rates have been made effective from 01.05.2015. New rates and previous rates are as under: Sr. No. Description PCT Heading Rate of sales tax as on 30.04.2015 Rate of Sales Tax w.e.f. 01.05.2015…
Federal Government has amended its notification SRO No. 383(I)/2015 dated 31.04.2015 through SRO 470(I)/2015 dated 31.05.2015. Rate of sales tax on petroleum products w.e.f. 01.06.2015 shall be as under: Rate of Sales Tax S. No Product Description Old Rate of Sales Tax New Rate of Sales Tax 1. Motor Spirit 20% 19% 2. High Speed…
Punjab Revenue Authority vide its Notification No. PRA/Caterers.21/2012 dated 25.11.2013 has partially exempted services of standalone caterers, now these services will be chargeable to sales tax @ 5% w.e.f. July-2012 subject to the condition that arears shall be paid within one month of this notification. This notification however, will not be applicable on such supplies…
Punjab Revenue Authority vide its Notification No. PRA/Orders.06/2012 dated 03.01.2014 has inserted Rule (4A) in the Punjab Sales Tax on Services (Definitions) Rules, 2012 which states that if any service(s) is mentioned in the definition of any taxable service and has also been defined separately in the said Rules, such service shall be liable to…
Punjab Revenue Authority vide its notification No. SO (TAX) 1-1/2013-14 dated 12.02.2014 has made the following amendments in the Second Schedule of the Punjab Sales Tax on Services Act, 2012 (Taxable Services): Services of Construction are liable to standard rate of sales tax (i.e. 16% of the value of services) instead of reduced rate of…
