Certain amendments have been made in the Sales Tax Rules 2006 vide SRO 494(I)/2015. Some of the important changes are as under: i) New rules for registration, de-registration, suspension and blacklisting etc. have been issued. The concept of biometric verification of applicants has been introduced along with other changes e.g. GPS-tagged photographs of the business…
Vide SRO 720(I)/2015 dated 31.07.2015 Federal Government has made changes in SRO 383(I)/2015 dated 30.04.2015 to change rate of sales tax for petroleum products w.e.f. 01.08.2015. New rates are as under: Sr. No. Description Previous Rate of Sales Tax New Rate of Sales Tax 1 Motor Spirit 17% 20% 2 HOBC 17% 17% 3 Kerosene…
Federal Government vide SRO 719(I)/2015 dated 31.07.2015 has directed that rate of sales tax on supply of electricity exclusively produced through High Speed Diesel will be the same as is applicable on supply of High Speed Diesel at that day. It means that electricity so produced shall be liable to payment of sales tax @…
Vide SRO 738(I)/2015 dated 31.07.2015, Federal Government has made amendments in Chapter-II (Special Procedure for Payment of Sales Tax by Retailers) of the Sales Tax Special Procedure Rules, 2007. Criteria for registration of retailers was changed through SRO 608(I)/2014 dated 02.07.2014 and retailers and trade bodies were consistently opposing the same. Now FBR has amended…
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…
