The following amendments have been made in sales tax notifications:- Vide SRO 152(I)/2013, amendments have been made in SRO 811(I)/2009 dated 19.09.2009. Vide this amendment, the exemption of sales tax available on import and supply of polyethylene and poly proplylene for manufacture of monofilament yarn and net cloth for greenhouse farming has been withdrawn. This…
Federal Government vide SRO 172(I)/2013 dated 05.03.2013 has announced amnesty scheme in respect of non-duty paid/smuggled vehicles. These vehicles are allowed to be regularized on payment of duty and taxes along with 1% redemption fine till 31.03.2013. Under this amnesty, for the vehicles up to 6 year old depreciation will be allowed as under: Passenger…
Federal Government has issued SRO 179(I)/2013 dated 07.03.2013 granting amnesty against zero-rated supplies made to doubtful/ dubious registered persons. If a registered person who has issued zero-rated invoice and credentials of his buyers are doubtful, the registered person through a special return, may pay sales tax @2% against such invoices. No default surcharge and penalty…
FBR has issued SRO 212(I)/2013 datd 14.03.2013. As per this new SRO, income tax under section 148 shall be charged @ 1% in case of manufacturers and 3% in case of commercial importers of items covered under sales tax notification SRO 1125(I)/2011 dated 31.12.2011. The said SRO i.e 1125(I)/2011 relates to reduced rate of sales…
Federal Government has issued following notifications:- 1) Vide SRO222(I)/2013 dated 15.03.2013, amendment has been made in notification SRO 575(I)/2006 dated 05.06.2006. As per the amending notification, sales tax and customs duty have been exempted on coal mining machinery, equipment, spares including vehicles for site use i.e single or double cabin pick-ups imported for Thar Coal…
Federal Government has issued SRO 98(I)/2013 dated 14.02.2013 vide which amendments have been made in the Sales Tax Special Procedure (Withholding) Rules, 2007. Now (i) all companies as defined under the Income Tax Ordinance, 2001; and (ii) all persons registered as exporters are now required to deduct 1/5th of the total sales tax shown in…
The Federal Board of Revenue has issued procedure for adjustment of sales tax paid by steel melters /re-rollers on import of re-meltable iron and steel scrap vide Sales Tax General Order No. 1 of 2013 dated 03.01.2013. Adjustment will be allowed to steel melters and re-rollers. To avail the adjustment under STGO No. 1 of…
Vide SRO 1401(I)/2012 dated 30th November, 2012 certain amendments have been made in SRO 655(I)/2006 dated 22nd June, 2006. Rate of customs duty on import of sub-assemblies by vendors of M/cycles has been reduced from 20% to 15% for a period of one year. Rate of customs duty on import of components by vendors of…
• Vide SRO 1486(I)/2012 dated 24th December, 2012, following further amendments have been made in Chapter XI (Special Procedure for Payment of Sales Tax by Steel-Melters, Re-Rollers and Ship Breakers) of the Sales Tax Special Procedure Rules notified vide SRO 480(I)/2007 dated 9th June, 2007. (i) Rate of sales tax per unit of electricity consumed…
Punjab Revenue Authority has issued Punjab Sales Tax on Services (Withholding) Rules, 2012 vide its notification No. PRA / Orders. 06 / 2012 (11) dated 27.08.2012. The following persons have been appointed as withholding agents in case they receive taxable services. (a) Federal and Provincial Governments including local and district governments, government departments and offices;…
