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    BUDGET
    Govt Imposed 17% Sales Tax on Hospital Supplies

    Govt Imposed 17% Sales Tax on Hospital Supplies

    The government has imposed a 17 percent sales tax on supplies to hospitals, has increased the operational cost of hospitals and medical treatment. Presentation was given by the leading hospitals to the Federal Board of…

    Businesses
    New definition of ‘exported goods’ as per SRO issued by FBR

    New definition of ‘exported goods’ as per SRO issued by FBR

    The Federal Board of Revenue (FBR) has changed the definition of the exported goods for claiming duty drawback covering supplies against international tenders or supply to industrial units, projects, institutions, agencies, and organisations. The FBR…

    BUDGET
    Cottage industry annual turnover limit proposed to change

    Cottage industry annual turnover limit proposed to change

    Which persons required to get sales tax registration ? Registration Section 14 of Sales Tax Act 1990 According to Registration provisions under Section 14(1) of Sales Tax Act, 1990, Every person engaged in making taxable supplies…

    UPDATES
    FBR decided to impose effective section 40B of the Sales Tax Act 1990 to curb tax evasion

    FBR decided to impose effective section 40B of the Sales Tax Act 1990 to curb tax evasion

    The Federal Board of Revenue (FBR) has decided to outline guide techniques for Inland Revenue Officers for effective monitoring of sales and clearances of goods at the big retail outlets and manufacturing places of different…

    TAXATION
    FBR authorized to appoint special panels for tax audit

    FBR authorized to appoint special panels for tax audit

    Under Section 32A of Sales Tax Act, 1990 FBR is authorized to appoint special panels for conducting sales tax audit. The Federal Board of Revenue (FBR issued the Sales Tax Act, 1990 updated up to…

    BUDGET
    Govt considering withdrawal of sales tax exemptions

    Govt considering withdrawal of sales tax exemptions

    The government is considering over a presidential ordinance to withdraw sales tax exemptions, zero-rating, and reduced sales tax rates to the tune of Rs330 billion within the next 10 to 15 days, according to a…

    TAXATION
    FBR Suspends Sales Tax collection On Sugar from manufacturers

    FBR Suspends Sales Tax collection On Sugar from manufacturers

    The Federal Board of Revenue (FBR) has suspended the provision of sales tax collection on sugar from the manufacturers on the basis of the retail price up to November 30, 2021. The FBR on Thursday…

    TAXATION
    Weekly Tax Updates: January 10 2021

    Weekly Tax Updates: January 10 2021

    Weekly Tax Updates from 3rd January to January 09 2021. World taxes, Top Tax News & Updates. Business & Industry News. Financial news, banking sector. Money market, stock exchange updates. Tax summaries. Tax Updates |…

    TAXATION
    Sales tax rates | Third Schedule goods | Eighth Schedule goods | Retail price | Reduced rate of sales tax

    Sales tax rates | Third Schedule goods | Eighth Schedule goods | Retail price | Reduced rate of sales tax

    Sales tax rates | Third Schedule goods | Eighth Schedule goods | Retail price | Reduced rate of sales tax. Scope of tax Under Section – 3(1) Scope of tax Under Section – 3(1) Subject…

    BUDGET
    Disallowance of Commission: Commission in respect of Third Schedule Items

    Disallowance of Commission: Commission in respect of Third Schedule Items

    Disallowance of Commission Amendment made through Finance Act 2019, to disallow any expenditure incurred on account of commission in respect of supplies covered by the Third Schedule to the Sales Tax Act, 1990 (STA), if…