Vide SRO 608(I)/2015 dated 30.06.2015 Federal Government has rescinded its notification SRO 559(I)/2008 dated 11.06.2008 (Concession on import of raw material for manufacture of toilet and laundry soap in AJ&K)
Vide SRO 609(I)/2015 dated 30.06.2015 Federal Government has made amendments in SRO 693(I)/2006 dated 01.07.2006 and list of items for manufacture of automobile industries subject to additional customs duty has been revised. However, there is no change with regard to rate of additional duty.
Vide SRO 610(I)/2015 dated 30.06.2015 Federal Government has made following amendments in SRO 678(I)/2004 dated 07.08.2004 relating to concession of customs duty to E&P companies on import of machinery, equipment, specialized vehicles etc. (a) Concession on import of pick-ups (4×4) has been withdrawn; (b) Concession on import by sub-contractors has been withdrawn; (c) Time limit…
Vide SRO 611(I)/2015 dated 30.06.2015 Federal Government has rescinded its notification SRO 811(I)/2009 dated 19.09.2009 (Zero Rating of sales tax on polyethylene and polypropylene).
The Changes proposed through Finance Bill, 2015 are as under: PROPOSED CHANGES IN INCOME TAX ORDINANCE 2001 THROUGH FINANCE BILL 2015 Definition Section 2 The following new clauses have been proposed to be inserted in section 2:- Clause (13AA) “Consumer goods” have been defined as goods that are consumed by end…
Federal Board of Revenue has issued SRO 481(I)/2015 dated 05.06.2015 wherein excise duty on locally manufactured cigarettes has been increased as under: Sr. No. Description of goods New rate of duty 1 Locally produced cigarettes if their on-pack printed retail price exceeds rupees three thousand three hundred and fifty per thousand cigarettes. Rs.3,030/- per thousand cigarettes…
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 vide SRO 393(I)/2015 dated 30.04.2015 has imposed 7% regulatory duty on import of furnace oil falling under PCT heading 2710.1941. Previously import of furnace oil was subject to %5 regulatory duty on its imports vide SRO 132(I)/2015 dated 12.02.2015.
Federal Government has imposed regulatory duty on import of petroleum products vide SRO 392(I)/2015 dated 30.04.2015. The products and applicable rates of regulatory duty are as under: Sr. # Description PCT Heading Rate of Regulatory Duty (%) 1 Petroleum Crude Oil 2709.0000 2 2 Motor Spirit Oil 2710.1210 2 3 High Speed Diesel 2710.1931 2.5
Federal Government vide SRO 398(I)/2015 dated 08.05.2015 has directed that following goods shall be liable to payment of sales tax at reduced rate of %%: 1- Import of LNG for servicing CNG Sector, and 2- Fertilizer produced by using imported LNG. However, certain conditions with regard to retail price, apportionment of production and presentation of…
