The following changes have been made by Punjab Revenue Authority in the taxation regime of services:- 1) Vide S.No.6 of the Second Schedule to the Punjab Sales Tax on Services Act, 2012, internet services were exempt from sales tax. These have now been subjected to sales tax vide SRO No.SO(TAX)101/2014-15 (Vol-I) dated 28.05.2015, except the…
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…
Vide SRO 484(I)/2015 dated 30.06.2015, following amendments have been made in the Sales Tax Special Procedure Rules, 2007: 1- Chapter IX (Special Procedure for Processing of Refund Claims filed by the Persons Engaged in Making Zero-Rated Supply of Ginned Cotton) has been omitted being redundant. 2- Certain amendments have been made in Chapter XI (Special…
Vide SRO 485(I)/2015 dated 30.06.2015 following changes have been made in the Sales Tax Special Procedure (Withholding Rules, 2007): i) Petroleum dealers (dealers of motor spirit HSD) have been excluded from withholding of one tenth of the sales tax shown on the sales tax invoice. ii) Previously, withholding was required at the time of making…
Vide SRO 492(I)/2015 dated 30.06.2015, confusion regarding exclusion of section 8B in case of zero rated supplies has been removed. The supply charged to reduced rate under notification 1125(I)/2011 have been excluded / exempted from the provisions of section 8B, provided that value of such supplies exceeds 50% of the total sales.
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 489(I)/2015 dated 30.06.2015, following changes have been made in SRO 550(I)/2006 dated 05.06.2006: i) Services provided in respect of travel by air and carriage of goods will no longer be subjected to excise duty in sales tax mode.
Vide SRO 490(I)/2015 dated 30.06.2015, the following FED notifications have been rescinded: i) SRO 778(I)/2006, dated the 1st August, 2006 (Exemption on international travel by air to certain persons); ii) SRO 474(I)/2009, dated the 13th June, 2009 (Exemption on motor cars, banking companies in respect of certain services and white cement); iii) SRO 802(I)/2009, dated…
Vide SRO 486(I)/2015 dated 30.06.2015, following changes have been made in SRO 1125(I)/2011: i) Maize (corn) starch has been excluded from SRO 1125(I)/2011 dated 31.12.2011. It will now be liable to tax at standard rate. ii) Table-II of SRO has now been substituted. The sales tax rates for various items will now be as under….
Vide SRO 487(I)/2015 dated 30.06.2015, the following dates have been specified for payment of sales tax and filing of return by certain sectors: i) 18th day of the month following the tax period for payment of sales tax on petroleum products. ii) Return filing date for petroleum exploration and production companies will be 21st day…
