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BUDGET 2014 15 Sales Tax Advisory Services
 Ninth Schedule has been added in the Sales Tax Act, 1990 regarding the levy of sales tax on cellular mobile phones. FEDERAL EXCISE DUTY Against S. No. 13 of the First Schedule of the Federal Excise Act 2005 the rate of duty on cement has been changed. By virtue of amendment the rate of duty has been changed as 5% of the retail price instead of Rs. 400/ per metric ton.
ILYAS SAEED & Co
SRO 488(I)/2006, dated J Amendment in Special Procedure Rules. Sales Tax on Retailers. Sales Tax @ 2% on Turnover regime has been introduced as option to Retailers to pay on their Gross Turnover (including exempt supplies), without adjustment of any input tax.
Sales Tax Guide
Sales tax was declared a federal subject in 1948 through the enactment of General Sales Tax Act, 1948 and in 1952, this levy was transferred permanently to the Central Government. Sales tax was levied at the standard rate of 6 pies per rupee at every stage whenever a sale was effected.
Sales Tax on Goods Provincial and federal Sales tax rates
Sales tax on Goods Pakistan was a provincial tax at the time of partition. It was administered in the provinces of Punjab & Sindh as a provincial levy. Sales tax on Goods Pakistan was a provincial tax at the time of partition. It was administered in
Govt not to increase sales tax in budget: FBR Samaa Digital
ISLAMABAD: Federal Board of Revenue (FBR) said the government has decided for not increasing sales tax in the upcoming budget. In an interview with Radio Pakistan, Member FBR Shahid Hussain Asad
FBR, Ministry to Discuss Tax Related issues in Power Sector
FBR, Ministry to Discuss Tax Related issues in Power Sector The Federal Board of Revenue (FBR) and Ministry of Water and Power have decided to discuss major tax CNG stations, distribution losses are recognised and allowed by the tax authorities. Such losses are Principally decision taken with AJK regarding non levy of sales tax needs to
CNG stations in Sindh face prospect of gas disconnection
KARACHI: Hundreds of CNG filling stations in Sindh face the prospect of gas disconnection over a sales tax controversy, which has pitted station owners against the country’s tax authority, the
Sales Tax (SRO 603)
Provided that a person registered in a Large Taxpayers Unit shall be entitled to adjustment of sales tax so deducted by him from the output tax due, subject to the conditions specified in sections 7, 8, 8B and 73 of the Sales Tax Act, 1990, and the rules made thereunder.
New taxes of Rs255bn in FY14 15 budget likely
It is a similar story with sugar, as general sales tax on the commodity stands at 8pc instead of 17pc, due to the influence of millers. This year, FBR’s tax to GDP ratio is expected to fall to from the budgetary target of .
SCOPE OF SALES TAX « Future Chartered Accountants
Tax on supply to CNG stations In case of supply of natural gas to CNG stations, the Gas Transmission and Distribution Company shall charge sales tax from the CNG stations at the rate of 17% on the value of supply to the CNG consumers.
Mughal MarkTheTruth
An amendment in the law disallowing FBR to issue SROs can increase tax collection to boost shabby economy. He asked to independent think tanks and superior courts to review in detail the negative impact of misuse SROs which is hurting the society in general and specifically hitting poor.
Tax Guide for Gas Station Operators CDTFA
To help you better understand the tax obligations specific to gas station owners and operators, we have created this guide. Liquid and compressed natural gas (LNG and CNG) Kerosene; The sales tax rate is applied to the price of diesel fuel after the federal excise tax has been added but before the state excise tax is added.
Difference between VAT & GST/Sales Tax Akhtar Ali
Difference between VAT & GST/Sales Tax by admin in Federal Sales Tax 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.
Sales Tax Updates Notifications, Circulars
FBR amends sales tax rules to implement automated registration system Pk Revenue Monday, 01 07 2019, Read more FBR notifies new chapter for sales tax withholding rules Pk Revenue Monday, 01 07 2019, Read more Referral of tax evasion cases to NAB opposed The Express Tribune Tuesday, 18 06 2019, Read more
CNG Customs Today Newspaper
FBR to get withholding data from all banks to broaden tax base Multan Customs collects as Petroleum Development Levy in May Ban on entry in Customs Houses creates hue & cry amongst
Budget 2017 18 Audit, consulting, advisory, and tax services
Advance tax on gas sales of CNG stations: Tax collection rate from non filer CNG stations under section 234A of the Ordinance. 4% 6% proposed to be treated as pro modes. Sales tax Zero rated supplies would be charged with further tax of 2% on supplies to persons other than the registered persons. Payment of sales tax by Tier 1
Sales Tax Act: SNGPL urges FBR to remove ambiguity
Sales Tax Act: SNGPL urges FBR to remove ambiguity. RECORDER REPORT ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has requested Federal Board of Revenue (FBR) to remove an ambiguity in the Sales Tax Act made through Finance Act 2018 regarding applicability of the reduced rate of sales tax rate on import and onward supply of LNG/ RLNG to Sui
Finance Acts 2014
Redefine the rate of sales tax on CNG stations. Abolition of SROs for exemptions and zero rating and insertion of the respective provisions in the Sales Tax Act, 1990. Fifth Schedule and the Sixth Schedule to the Sales Tax Act, 1990 have been expanded.
Income Tax Consultant (Pakistan)
Federal Board of Revenue (FBR) has extended the date of submission of Sales Tax/Federal Excise return up to 21st August 2015 for the tax period July, 2015 for all registered persons. The extension has been granted under section 74 of the Sales Tax Act, 1990 and
GST on POL products increased: petrol prices remain
On Sunday, Ministry of Finance stated that the government has decided not to increase in the prices of petroleum products for the month of July and the existing price of June 2019 will remain unchanged for the month of July.However, in an adjustment, the Federal Board of Revenue (FBR) has increased sales tax on Motor Spirit (MS) from existing 13 percent to 17 DETAILS
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FBR issues 822,636 active taxpayers list for income tax deduction at source By Kazim Raza Rizvi 20 Jun 2014 20 Jun 2014 Customs KARACHI: The Federal Board of Revenue (FBR) on Thursday issued a list of 822,636 active taxpayers for income tax deduction at source.
SROs issued regarding new entrants of motorcycle
Home / Breaking News / SROs issued regarding new entrants of motorcycle manufacturing industry. SROs issued regarding new entrants of motorcycle manufacturing industry. of rupees sales tax
FBR notifies key changes in tax system for FY09 The Nation
Sunday J ; e Paper ; Today's Paper ; EDITOR'S PICKS . Featured; Newspaper Picks; OPINION . Editorials
Sales tax 2018 19 Sixth Schedule
approval of FBR the same shall be subject to payment of sales tax as may be prescribed by the FBR;. (g) in case the equipment, imported under this Notification, is sold or otherwise disposed of without prior approval of the FBR in terms of condition (f), the same shall be
General Sale Tax (GST) rate on POL
However, in an adjustment, the Federal Board of Revenue (FBR) has increased sales tax on Motor Spirit (MS) from existing 13 percent to 17 percent. Sales tax on High Speed Diesel (HSD) has also been increased from 13 percent to 17 percent. The standard rate of sales tax (17 percent) on Kerosene and
CNG outlets: advance tax on utility bills constitutes
Taxation CNG outlets: advance tax on utility bills constitutes final tax on income: FBR. Septem Taxation. The Federal Board of Revenue (FBR) has said that the advance tax collected on the amount of gas bill as well as the electricity bill of a CNG station shall constitute final tax on the income of a CNG station.
Latest News of Customs, Corporate, Financial, Income, Taxes
Sulemanjee said the government is thinking on lines of introducing ''Finance Amendment Bill 2014'' to collect 26 percent sales tax on Compressed Natural Gas (CNG) stations. However, so far FBR has not taken any final decision in this regard. In a judgement delivered on Decem , the Supreme Court of Pakistan held imposition of nine percent additional sales tax on supply of CNG (Compressed
A taxpayers guide to the Value Added Tax Pakistan Defence
A taxpayers guide to the Value Added Tax Tax exemptions given on political grounds will be no more in the VAT era. ISLAMABAD: The proposed new consumption tax on goods and services from July 1st 2010 is designed to take away tax exemptions, given mostly on political grounds, by levying 15 per cent tax at every stage of value addition of a
Bstaxconsultant / Custom, Rebate, DLTL & Sale Tax Consultant
The Federal Board of Revenue (FBR) has requested the Ministry of Finance to approve exemption to the CNG stations from 5 percent extra sales tax and one percent ''further tax'' to avoid sudden increase in the prices of the CNG due to 6 percent additional taxes on un registered industry.
‘All CNG stations to be shut if FBR fails to resolve tax
CNG stations in Sindh are said to have been served notices from the Sui Southern Gas Company (SSGC) for the recovery of Rs4 billion within 10 days on the levy of additional sales tax from April
BUDGET 2014 15 Sales Tax Advisory Services
Table 2 has also been added regarding plant, machinery, equipment and apparatus, including capital goods, specified in column (2) of the Annexure shall be charge to sales tax @ 5% with certain conditions. NINTH SCHEDULE. Â Ninth Schedule has been added in the Sales Tax Act, 1990 regarding the levy of sales tax on cellular mobile phones.
FBR to recover estimated Rs2bn from CNG stations
KARACHI: The Federal Board of Revenue (FBR) plans to recover an estimated outstanding amount of Rs2 billion from compressed natural gas (CNG) stations, which are paying lower sales tax after
Sales Tax Federal Board Of Revenue
Sales Tax was a provincial subject at the time of partition. It was being administered in the provinces of Punjab & Sindh as provincial levy. Sales tax was declared a federal subject in 1948 through the enactment of General Sales Tax Act, 1948 and in 1952, this levy was transferred permanently to the Central Government.
FBR expects huge sales tax collection from CNG stations
FBR expects huge sales tax collection from CNG stations the appeal filed by CNG station owners. Officials in the FBR said on Wednesday that the case was on stay for a
Sales Tax Registration Pak Customs Business Web Portal
The Federal Board of Revenue, Pakistan (FBR) has simplified sales tax registration and deregistration procedure. For this purpose, a prospective taxpayer has been given the option to apply for registration directly to the Central Registration Office (CRO) at Federal Board of Revenue.
Company Profile Sales Tax Advisory Services
The credentials of the top management have a role to play in the success of our company in this area. For details regarding the credentials of our management, please refer to page 12. Broadly, our services include: Advisors to the Federal Board of Revenue on the matters of Sales Tax. Advisors of the following prominent bodies and associations:
OMCs and dealers’ margins: FBR to map out mechanism for
The Federal Board of Revenue (FBR) will chalk out a mechanism for recovery of general sales tax (GST) on the oil marketing companies (OMCs) and dealers’ margins of certain petroleum products in order to implement the decision of the Economic Coordination Committee (ECC) of the Cabinet regarding deregulation of POL products. Sources told Business Recorder Monday that the
Islamabad Region Customs Today Page 2
They said hike in the CNG prices would enrage the Apex Court that had already taken the FBR to task for levying 26 per cent sales tax on the sector. Now it is also the responsibility of the Oil and Gas Regulatory Authority (Ogra) to keep check on the CNG stations and control the sale of CNG above the determined cost, the officials added.
Taxation Archives KANCO
The information of five to six million people, specifically non filers of income tax returns, would be available on the web portal of the Federal Board of Revenue (FBR) from Friday (today) and non filers can have online access details of their assets to verify data compiled by the FBR
FBR issues tax valuation on supplies Business Recorder
According to SRO 692(I)/2019 issued here on Saturday, the FBR has amended SRO 648(l)/2013. Through an SRO 690(l)/2019, the FBR has fixed the value of supply to the CNG consumers for the purpose of charging of sales tax from CNG stations by the gas transmission and distribution companies from J .
70 food items exempted from sales tax PakTribune
While replying a query, FBR counsel told that the court 70 items including cooking oil, peppers, seeds and sugarcane exempt from GST. The Chief Justice ordered the counsel to submit a comprehensive report to the court regarding GST sales tax on the next hearing. End.
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FBR recommends SBP to clear payment of Rs billion as sales tax refunds The payment will benefit 898 claimants involved in exports of textile, carpets, leather, etc .
Government of Pakistan Federal Board of Revenue
GOVERNMENT OF PAKISTAN (REVENUE DIVISION) CENTRAL BOARD OF REVENUE *** Islamabad, the 16th August, 2007 NOTIFICATION (SALES TAX) S.R.O. 824(I)/2007. In exercise of the powers conferred by sub section (1) of section 4 and section 40
FBR increases up to percent retail value of CNG for
ISLAMABAD: Federal Board of Revenue (FBR) has enhanced the consumer value of CNG by percent for collection of sales tax from J . The FBR issued SRO 690(I)/2019 to notify the consumer value of CNG for the purpose of charging of sales tax from CNG stations by gas transmission and distribution companies.
Company Profile Sales Tax Advisory Services
In order to serve our clients in an effective manner, Sales Tax Advisory Services (SAS) has been established as tax based consulting firm in 1996. The primary objective is to make available to the taxpayer an organized professional strategy supported by a dedicated team of professionals for an effective delivery of the services.