Federal Government vide Vide SRO 84(I)/2015 dated 28.01.2015 has granted exemption from payment of sales tax on import and local supply of raw materials for manufacture of pharmaceutical active ingredients and pharmaceutical products. However, such ingredients shall be entitled for exemption on import which are included in the Fifth Schedule of the Customs Act, 1969…
Federal Government vide SRO 85(I)/2015 dated 28.01.2015 has made amendments in the Chapter-II (Special Procedure for Payment of Sales Tax by Retailers) of the Sales Tax Special Procedure Rules, 2007. Through these amendments, these rules have been made applicable on Jewelers as well. While determining the value of taxable supply of a jeweler, he will…
Federal Government vide SRO 83(I)/2015 dated 30.01.2015 amended its notification No. 1152(I)/2014 dated 30.12.2014. Rate of sales tax has been increased from 22% to 27% on import and local supply of petroleum products namely, Petrol including Hi-Octane, Kerosene Oil, Light Diesel Oil and High Speed Diesel Oil. This notification will take effect from 01.02.2015
Federal Government vide its notification No. 1152(I)/2014 dated 30.12.2014 has imposed 22% sales tax on import and local supply of petroleum products namely, Petrol including Hi-Octane, Kerosene Oil, Light Diesel Oil and High Speed Diesel Oil. Previously these products were liable to 17% sales tax. This notification will take effect from 01.01.2015
FBR has issued Sales Tax General Order No.27 of 2014 to rectify the anomaly created due to creation of 2% extra tax vide SRO 896(I)/2013 dated 04.10.2013. It has been laid down in the Sales Tax General Order that 2% extra tax will not be applicable on supplies of auto parts and accessories, tyres and…
Certain amendments have been made in respect of following: 1. Special Procedure for payment of sales tax by retailers; 2. Special Procedure for collection and payment of sales tax on natural gas; 3. Special Procedure for payment of sales tax by steel melters, re-rollers and ship breakers; and 4. Special Procedure for payment of sales…
Vide SRO573(I)/2014 dated 26.06.2014 , the following notifications have been withdrawn: a) SRO549(I)/2008 relating to zero rating of certain items. b) SRO551(I)/2008 relating to conditional exemption of various items. c) SRO727(I)/2011 dated 1st August, 2011 relating to conditional exemption on import of machinery. d) SRO501(I)/2013 dated 12th June, 2013 relating to exemption of certain items….
The following amendment have been made in SRO1125(I)/2011 vide SRO 575(I)/2014 dated 26-06-2014: 1- Imported finished articles of textile and other zero rated sectors were subjected to 17% sales tax on their imports. Rate of tax to be imposed on their subsequent supply was not clear. It has been now been specifically laid down that…
Vide SRO 576(I)/2014 dated 26-06-2014 certain amendments have been made in chapter XI of the Rules relating to Special Procedure for Payment of Sales Tax by Steel Melters, Re-rollers and Ship Breakers. These changes are corrective in nature to rectify certain typographical errors and have no impact on chargebility of sales tax or conditions of the…
Federal Government has made amendments in SRO 549(I)/2008 dated 11.06.2008 vide SRO ____(I)/2014 dated 02.05.2014 by adding a new serial No. 12 which entitles import of 200,000 metric tons of potato imported between 05.05.2014 to 31.07.2014 for zero-rating of sales tax. Such imports shall be charged to 0% sales tax on import stage.
