The Federal Government has issued a notification SRO 47(I)/2012 dated 20.01.2012. By virtue of this notification excise duty on air tickets have been slightly enhanced from the duty already prescribed against Sr. No.3 of Table II of the First Schedule to the Federal Excise Act, 2005
The Federal Government has again revised scheme for five zero-rated sectors and has issued notification No. S.R.O. 1125/I/2011 dated 31st December, 2011. The benefit of this notification is available to Manufacturers, Importers, Exporters, Wholesaler and Retailers of textile, carpets, leather, sports and surgical goods/sectors. The rate is either zero or five percent with full availability…
The scheme of zero rating of five sectors as was previously available under SRO 283(I)/2011 dated 1st April, 2011 has been restored by superseding SRO 1012(I)/2011 dated 4th November, 2011 vide SRO ____(I)/2011 dated 23rd November, 2011. This notification has been made effective from 04.11.2011.
FBR vide its letter C.NO.3(9)ST-L&P/2010 dated .17/11/2011.has extented the date of filling Sales Tax Retunr for month of October,2011 up to 25/11/2011.
FBR has extended the date for furnishing of CNIC or NTN numbers of unregistered buyers till 1st January, 2012. For this purpose, FBR has issued letter vide C.No.3(9)ST-L&P/2010 dated 04..11.2011.
SRO 283(I)/2011 dated 1st April, 2011, relating to five export oriented sectors has been replaced with SRO 1012(I)/2011 dated 4th November, 2011. Certain changes have been introduced through new notification in zero rated sectors which are as under:- i) Zero-rating of Maize Starch has been withdrawn. ii) Benefit of this notification has been extended on import of…
1. FBR has finally agreed to suspend the operation of SRO 821(I)/2011dated 06.09.2011 requiring manufacturers, importers and exporters to indicate NTN / CNIC No. of their buyers on their invoices and in their sales tax returns. The requisite letter is likely to be issued on Monday, the 24th of October, 2011. 2. FBR has issued…
Date for filing of sales tax and federal excise returns for the months of July and August, 2011 has been extended upto 26th of September 2011
Through an amendment in SRO.967(I)/2007 dated 20th September 2007, FBR has allowed clearance of containerized cargo routed through Qasim International Container Terminal (known as QICT) from Port Qasim Karachi. The said port is operating locally developed customs clearance system know as WeBOC. Previously, containerized cargo imported through the said port was cleared from PaCCS which is owned by Agility, a…
FBR has issued Notification No. SRO 821(1)/2011 dated 6.9.2011 for providing legal cover to its measure regarding mentioning of NTN or CNIC number of un-registered buyers. Now all importers, manufacturers and exporters are required to mention NTN or CNIC of un-registered buyers on sales tax invoices. The same will be required to be reflected in…
