The Federal Government has extended the date of payment of sales tax and federal excise duty from 15.07.2016 to 18.07.2016 and the date of submission of sales tax and federal excise return from 18.07.2016 to 21.07.2016 for the tax period of June, 2016.
The Federal Government has extended the date of filing of Withholding Tax statement, which was due on 15th July, 2016, till 22nd July, 2016 vide Circular No.06 of 2016.
The proposed changes can be accessed here: https://drive.google.com/open?id=0BwUI-PxfjgugR1NRbU40WjN1YmNwcUNVN0NMZEc4TG11R1R3
Vide SRO 495(I)/2016 dated 04.07.2016, the Federal Government directed that the following services shall be chargeable to reduced rate of 5%, subject to the condition that no input tax adjustment will be available against such services: (i) Construction services; (ii) Services provided by beauty parlours, clinics, sliming clinics, body massage centres, pedicure centres including cosmetic…
Vide SRO 492(I)/2016 dated 30.06.2016, FBR has fixed value of white crystalline sugar for import and local supplies as under: (i) Import US$ 725 per MT. (ii) Locally produced sugar Rs. 56 per Kg. The notification will take effective from 01.07.2016.
Vide SRO 491(I)/2016 dated 30.06.2016, a new scheme for 5 Export Oriented Sector has been introduced. i) Generally, in case of supplies from registered persons to registered is zero percent subject to exception contained in the table in the provided SRO. ii) Adjustments of input tax, if any paid will be available; however, input tax…
Vide SRO 490(I)/2016 dated 30.06.2016, rates of sales tax on petroleum products have been revised as under:- S.No. Description PCT heading Rate (1) (2) (3) (4) 1. Motor spirit excluding HOBC. 2710.1210 17% ad valorem 2. HOBC. 2710.1210 17% ad valorem 3. Kerosene. 2710.1911 7% ad valorem 4. High speed diesel oil. 2710.1931 28% ad…
Vide SRO 489(I)/2016 dated 30.06.2016, the following notifications have been rescinded:- i) SRO 115(I)/2008, dated the 6th February, 2008 relating to exemption of sales tax on imports and supply of materials and equipments for construction and operation of Gawadar Port and development of Free Zone for Gawadar Port and Ship Bunker Oils bought and sold…
SRO 488(I)/2016 dated 30.06.2016 has been issued to allow retailers to pay sales tax @ 2% of their total turnover instead of 17% at present payable/chargeable. The retailers are required to give option to pay tax @ 2% to the Chief Commissioner concerned by 15th day of July, 2016. The total turnover, on which the…
Vide SRO 487(I)/2016 dated 30.06.2016, amendments have been made in sales tax notification SRO 648(I)/2013 dated 09.07.2013 relating to exemption of further tax. Through this amendment, a new S.No.7 has been added under which second hand worn clothing and other worn articles falling under PCT heading 6309.000 have been exempted from further tax of 2%,…
