Federal Board of Revenue vide its letter C. No. 3(9)ST-L&P/2010/151448 dated 11.11.2013 has extended date of payment of duty and tax and filing of Federal Excise Duty and Sales Tax for the tax period October-2013 till 20.11.2013
By virtue of amendments in sections 116(2) and 116(4) in the Finance Act, 2013, every individual filing income tax return or statement under final tax regime was required to furnish wealth statement and wealth reconciliation statement. This amendment was effective from the tax year 2013. Certain amendments have now been made in the said law…
“FBR has made certain amendments in the procedure for maintenance of Active Taxpayers List vide STGO 46 of 2013 dated 13.11.2013. 1- Now name of a taxpayer will be removed from the list in case of non filing by the end of calender month following the end of calender month of due date of special…
Punjab Revenue Authority vide its Notification No. PRA/Caterers.21/2012 dated 25.11.2013 has partially exempted services of standalone caterers, now these services will be chargeable to sales tax @ 5% w.e.f. July-2012 subject to the condition that arears shall be paid within one month of this notification. This notification however, will not be applicable on such supplies…
As per Circular No. 13 of 2013, dated 27th November, 2013 it has been clarified that Income Support Levy shall not be payable on entire business assets, it is payable on capital which is the difference between business assets and business liabilities
1) Following important changes have been made by the Federal Government/FBR in the taxation regime:- Sales Tax Sales tax on the basis of retail price in respect of the following items has been abolished which means that these items will now be taxable on the basis of their ex-factory price:- TABLE S. No. Specified…
Income Support Levy Income Support Levy Act, 2013 was introduced through Finance Act, 2013. Rules have now been formulated by the Federal Board of Revenue through SRO 904(I)/2013 dated: 8th October 2013. Salient features of which are as under: 1) The Levy required to be paid under section 4 of the Income Support Levy Act,…
Federal Board of Revenue vide its letter No. 3(9)ST-L&P/2010/14 0007-R dated 14.10.2013 has extended the date of payment of Sales Tax, Federal Excise and filing of returns for Sales Tax and Federal Excise duty upto 23rd October, 2013 for the tax period September, 2013.
Federal Board of Revenue has extended the date of filing of income tax returns/Statement for the tax year 2013 up to 30 November, 2013 for those companies whose tax period ended any time between 1.07.2012 to 21.12.2012 as well as other persons for whom these had previously been due on or before 30.09.2013 but had…
Federal Government vide its Notification, SRO 946 (I)/2013 dated 25th October 2013, has directed that for the period from 21st June, 2013 to 29th June, 2013, sales tax shall be charged and collected on import as well as on local supply of goods at the rate of 16% which was previously liable to sales tax…
