The following amendment have been made in SRO1125(I)/2011 vide SRO 575(I)/2014 dated 26-06-2014: 1- Imported finished articles of textile and other zero rated sectors were subjected to 17% sales tax on their imports. Rate of tax to be imposed on their subsequent supply was not clear. It has been now been specifically laid down that…
Vide SRO 576(I)/2014 dated 26-06-2014 certain amendments have been made in chapter XI of the Rules relating to Special Procedure for Payment of Sales Tax by Steel Melters, Re-rollers and Ship Breakers. These changes are corrective in nature to rectify certain typographical errors and have no impact on chargebility of sales tax or conditions of the…
Federal Government has made certain changes in its notification No. SRO 577(I)/2005 dated 06.06.2005 vide SRO562(I)2014 dated 26.06.2014. By virtue of these amendments, fixed amount of duty and taxes on import of cars up to 1800 cc has been increased by about 10%. The new rates are as under: Automatic vehicles of Asian makes meant…
Vide SRO 563(I)2014 dated 26.06.2014 SRO 567(I)/2006 relating to conditional exemption of various items has been withdrawn. As already intimated, some of these exemptions have been made part of the schedules of the Customs Act, 1969 and some exemptions have altogether been withdrawn. Each item is therefore be required to be examined separately.
SRO575(I)2006 dated 5th June 2006 relating to exemption of machinery etc. hasbeen withdrawn vide SRO564(I)2014 dated 26.06.2014.
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 SRO566(I)/2014 dated 26th June, 2014, proviso in the preamble of SRO594(I)/2009 dated 25th June, 2009 has been omitted. The effect of this omission is that regulatory duty on ferrous and non ferrous waste of lead, unwrought lead, lead bars, lead plates etc will be imposed on export of goods under DTRE and Manufacturing Bonds…
Vide SRO567(I)2014 dated 26.06.2014, table of SRO 499(I)2013 relating to concessionary rate of duty on hybrid vehicles has been replaced. The new table is as under: Engine Capacity. Extent of exemption in leviable duty & taxes. (1) (2) (3) Upto 1800 CC 50% Exceeding 1800 CC 25%.
Vide SRO 568(I)/2014 dated 26.06.2014, regulatory duty at the rate of 5% on 282 items has been imposed. It may be recalled that most of these items were chargeable to customs duty at the rate of 30%. However since maximum tariff rate was reduced to 25%, these 282 items have been selected for total incidence…
Vide SRO 569(I)2014 dated 26.06.2014, Federal Excise Duty and Sales Tax on Production Capacity (Aerated Waters) Rules, 2013 have been withdrawn with effect from 1st July, 2014. The aerated waters industry will therefore, be liable to sales tax and federal excise duty under the normal tax regime w.e.f 1st July, 2014.
