Dear Clients, It is informed that an agreement has been singed today between the Federal Government and SRB for allowing input tax adjustment of sales tax paid on services. Similar agreement is expected today with PRA as well. Ordinance and requisite notification are likely to be issued by 1st September, 2016.
Vide Notification No. SRB-3-4/11/2016, dated 28.06.2016, the following change has been made in the Sindh Sales Tax Special Procedure (Withholdling) Rules, 2014: (a) An amendment has been made in the definition of “FBR-registered person” in clause (5) of sub-rule (1) of rule 2. By virtue of the amendment, a person holding NTN or taxpayers’ registration…
Vide notification No. SRB-3-4/10/2016, dated 28.06.2016, the Government of Sindh has made certain changes in its notification No. SRB-3-4/7/2013, dated 18.06.2013, relating to exemption of sales tax on certain services. The main changes are as under: (a) The threshold of annual turnover for exemption has been increased from Rs. 3.6 million to Rs. 4 million…
Vide notification No. SRB-3-4/9/2016, dated 28.06.2016, Government of Sindh has amended notification No. SRB-3-4/8/2013 dated 01.07.2013. By virtue of the amendment, the following services that were previously taxable at a reduced rate of 6% shall be taxable at the rate of 8% with effect from 01.07.2016. Tariff Heading Description 9815.2000 legal practitioners and consultants 9815.3000…
Vide SRO 500(I)/2016, dated 30.07.2016, the Federal Government has specified new rates of sales tax for petroleum products w.e.f. 01.08.2016. The new rates are as under:- S.No. Description PCT heading Sales Tax Rates 1. Motor spirit excluding HOBC 2710.1210 17% ad valorem 2. HOBC 2710.1210 17% ad valorem 3. Kerosene 2710.1911 5% ad valorem 4….
