President of the Islamic Republic of Pakistan has issued Sales Tax (Amendment) Ordinance, 2014 to make amendments in the Sales Tax Act, 1990. Through this ordinance, following amendments have been made: 1- Sub-section (8) of Section 3 has been substituted. By virtue of this amendment, gas distribution companies at the time of supply of gas…
Federal Board of Revenue has issued a ‘Public Notice’ vide its letter C. No. 1(1)M(IR-Policy)/2014 dated 31.03.2014 to clarify the effect of amendment in section 3(8) of the Sales Tax Act, 1990 through the Sales Tax (Amendment) Ordinance, 2014 and impact of SRO ___(I)/2014 dated 31.03.2014. FBR has clarified that by virtue of such amendments,…
Federal Board of Revenue vide SRO _____/2014 dated 28.02.2014 has made cahnges in the Federal Excise Duty and Sales Tax on Production Capacity (Aerated Water) Rules, 2013 as notified vide SRO 649(I)/2013 dated 09.07.2013. By virtue of these amendments following changes are made in the rules. 1- Rate per filing valve or spout has been…
Federal Government vide SRO ____(I)/2014 dated 28.02.2014 has made amendment in SRO 490(I)/2004 dated 12.06.2004. Through this amendment, Federal Government has introduced capping of adjustment on aerated water manufacturers. Now aerated water manufacturers can only adjust 72% of their output tax liabilities against their input tax. Excess amount will be carried forward to the next…
Federal Government has issued a notification No. SRO____/(I)/2014 dated 26.01.2014. Through this notification Federal Government has notified that input tax paid on services liable to provincial sales tax shall be treated as input tax for the purposes of the Sales Tax Act, 1990. This notification has been made effective from 01.07.2013. Issuance of this SRO…
The FBR has again amended Sales Tax Registration Rules, 2006 with reference to ‘place of registration’. After these amendments, the registration will be granted as under:- a) In case of listed or unlisted public limited company, the place where the registered office is located; b) In case of other companies,- (i) If the company…
“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…
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…
Federal Government vide Finance Act, 2013 included all persons registered under the Sales Tax Act, 1990 in the list of ‘Prescribed person’ for the purposes of section 153 of the Income Tax Ordinance, 2001. Due to this amendment all sales tax registered persons are required to deduct Income tax at the prescribed rates w.e.f 01.07.2013….
Federal Government has extended date of payment of sales tax and federal excise duty and filing of sales tax and FE return for the Tax Period up to 20.08.2013
