Schedule of taxable services has been revised to make the same at par with the sales tax levied on such services under the respective sales tax on services regimes. The new Schedule is as under: S. No. Description PCT Heading, if applicable Rate of Tax (1) (2) (3) (4) 1 Services provided or rendered by…
Vide SRO 484(I)/2015 dated 30.06.2015, following amendments have been made in the Sales Tax Special Procedure Rules, 2007: 1- Chapter IX (Special Procedure for Processing of Refund Claims filed by the Persons Engaged in Making Zero-Rated Supply of Ginned Cotton) has been omitted being redundant. 2- Certain amendments have been made in Chapter XI (Special…
Vide SRO 485(I)/2015 dated 30.06.2015 following changes have been made in the Sales Tax Special Procedure (Withholding Rules, 2007): i) Petroleum dealers (dealers of motor spirit HSD) have been excluded from withholding of one tenth of the sales tax shown on the sales tax invoice. ii) Previously, withholding was required at the time of making…
Certain amendments have been made in the Sales Tax Rules 2006 vide SRO 494(I)/2015. Some of the important changes are as under: i) New rules for registration, de-registration, suspension and blacklisting etc. have been issued. The concept of biometric verification of applicants has been introduced along with other changes e.g. GPS-tagged photographs of the business…
Vide SRO 611(I)/2015 dated 30.06.2015 Federal Government has rescinded its notification SRO 811(I)/2009 dated 19.09.2009 (Zero Rating of sales tax on polyethylene and polypropylene).
Federal Government vide SRO 398(I)/2015 dated 08.05.2015 has directed that following goods shall be liable to payment of sales tax at reduced rate of %%: 1- Import of LNG for servicing CNG Sector, and 2- Fertilizer produced by using imported LNG. However, certain conditions with regard to retail price, apportionment of production and presentation of…
In recent weeks there is lot of discussion and debate as to what is the difference between Value Added Tax (VAT) and General Sales Tax (GST) in the context of Pakistan. The issue has further been confused by statements emanating from the government high ups who are insisting that VAT is to be introduced w.e.f…
Federal Government vide its notification No. SRO 254(I)/2015 dated 30.03.2015 imposed 25% regulatory duty on import of wheat, Wheat Flour(Aatta), Maida and Semolina (Suji). Previously only import of wheat was subjec to 20% regulatory duty on its imports.
Federal Government vide its notification No. SRO 255(I)/2015 dated 31.03.2015 reduced rate of sales tax on import and supply of High Speed Diesel Oil from 37% to 32% w.e.f. 01.04.2015
Federal Government vide its notification No. 175(I)/2015 dated 27.02.2015 changed rate of sales tax on petroleum products. New rates w.e.f. 01.03.2015 are as under: 1- Petrol / Motor Spirit / Hi-Octane 18% 2- Kerosene Oil …
