Vide SRO 1198(I)/2015 dated 03.12.2015, Federal Government has issued “Special Procedure for Adjustment of Sales Tax due on Fertilizers Rules, 2015” prescribing procedure for adjustment of sales tax on account of subsidy announced by Federal Government on supply of Phosphatic fertilizer. Fertilizer manufacturer / importer is required to provide complete details of sales showing NTN…
Vide SRO 1175(I)/2015 dated 30.11.2015 certain amendments have been made in SRO 577(I)/2005 dated 06.06.2005. Through these amendments, fixed rate of duty and taxes on vehicles of engine capacity up to 1800cc has been increased w.e.f. 01.12.2015. New rates of duty and taxes are as under: Sr. No. Automotive vehicles of Asian makes meant for…
Vide SRO 1177(I)/2015 dated 30.11.2015 certain amendments have been made in SRO 568(I)/2014 dated 26.06.2014. Through these amendments, regulatory duty has been imposed on 87 new items. Rate of regulatory on existing 313 items has also been increased generally by 5%. A copy of the Notification can be accessed here: http://akhtarali.com/federal-board-of-revenue/
Vide SRO 1178(I)/2015 dated 30.11.2015 all imports are subject to 1% additional duty w.e.f. 01.12.2015. However, additional duty shall not be charged on the following: Import of seed and spours of heading 0904.1130, 0904.2120, 1006.1010, 1209.0000 Items of Chapter 31 of the Pakistan Customs Tariff Plant and machinery used in manufacture of goods classifiable under…
Vide SRO 1182(I)/2015 dated 01.12.2015, Federal Government has extended period for which interim rate of 0.3% will be charged on banking transactions of non-filer up to 31.12.2015. A copy of the Notification can be accessed here: http://akhtarali.com/federal-board-of-revenue/
Vide SRO 1190(I)/2015 dated 01.12.2015, Federal Government has increased regulatory duty on import of vehicles. Certain new categories of vehicles have also been included in the list of vehicles chargeable to such RD. A copy of the Notification can be accessed here: http://akhtarali.com/federal-board-of-revenue/
Vide SRO 1189(I)/2015 dated 01.12.2015, Federal Government has increased 1% additional duty on import of components and sub-components for auto sector. A copy of the Notification can be accessed here: http://akhtarali.com/federal-board-of-revenue/
Vide SRO 1180(I)/2015 dated 30.11.2015, Federal Government has amended. SRO 383(I)/2015 dated 30.04.2015 and rates of the petroleum products have been revised w.e.f. 01.12.2015. New rates are as under:– Sr. No. Description Old Rate of Sales Tax New Rate of Sales Tax 1 Motor Spirit excluding HOBC 22% 24% 2 HOBC 16.5% 16.5% 3…
Vide Circular 12 of 2015 dated 30.11.2015, FBR has extended date of filing of annual returns/ statements for the tax year 2015 up to 31.12.2015 which were due on 31.08.2015 and 30.09.2015. Date of filing has earlier been extended up to 31.10.2015 vide Circular No. 8 of 2015 dated 30.09.2015 and up to 30.11.2015 vide Circular 11…
Vide SRO 1181(I)/2015 dated 30.11.2015, FBR has imposed fixed duty on cigarettes at the rates specified in the below table. Sr. No. Existing description of goods New description of goods Existing rate of duty New rate of duty 1. Locally produced cigarettes if theiron-pack printedretail price exceedsrupees three thousand three hundred and fifty per thousandcigarettes….
