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Tag Archives: Sales Tax Act

Customs Exports issues bank account attachment notice against Sharifuddin

Manzoor-Memon

KARACHI: The Special Recovery Cell (SRC) of the Model Customs Collectorate-MCC Exports has issued yet another bank account attachment notice against Muhammad Sharifuddin in its alleged involvement in non-payment of government dues amounting to Rs 1 million. Assistant Collector of Customs-SRC (Exports) with the consent of Collector-MCC Exports Manzoor Memon has issued bank account attachment notice under Section 48(I) (CA) ... Read More »

Customs audit detects misuse of SRO 421 in clearance of steel pallets

audit

KARACHI: The Directorate General of Internal Audit-Customs has sent “audit paras” to the MCC-Appraisement (East) and MCC-Port Muhammad Bin Qasim and pointed out a short recovery amounting of Rs 20 million altogether in clearance of steel pallets under SRO421/2014, it was learnt here. The sources informed Customs Today that the Directorate General of Internal Audit-Customs has sent audit paras amounting ... Read More »

Sugar millers set to join hands with FBR to widen tax net

sugar-mill

LAHORE: The sugar industrialists have expressed their willingness to further boost tax-to-GDP ratio for the revival of economy in the country. Pakistan Sugar Mills Association (PSMA) Punjab zone Chairman Javed Kayani, while talking to media, said that announced that sugar industry was ready to work with Federal Board of Revenue (FBR) to enhance tax net. He said that despite restrictions ... Read More »

FBR takes exception to misuse of SRO 77(I)2013 by sugar sector

Sugar

KARACHI: Taking strong exception to serious irregularities in collection of sales tax, Federal Excise Duty (FED) and income tax from sugar sector, the Federal Board of Revenue (FBR) has directed the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) to act on the report of Directorate General Audit, Inland-Revenue (South), Karachi. According to reports, the sugar sector has committed ... Read More »

R&D registers FIR against Sundus Fertilizers, clearing agent

fir

KARACHI: The Research and Development (R&D) Section of MCC Appraisement (East) has registered an FIR against owners, directors, partners of M/s Sundus Fertilizers & Chemicals Pakistan (Pvt) Ltd and M/s Al-Rehmat Trading, clearing agent against mis-declaration of description and value, as the importers tried to import Cartap Hydrochloride Tech 98 per cent min, B No 20140408 packed in 25 kgs ... Read More »

Mis-declaration: M/s Ziaul Haq & Sons served show cause

Show cause

KARACHI: The Customs Collectorate Additional Collector-II (Adjudication) has served importer M/s Ziaul Haq & Sons with a show-cause notice for mis-declaration of imported consignments. According to details, importer M/s Ziaul Haq cleared the consignments of cold rolled coil of prime quality, having PCT 7209.1590, weighting 3,784-kg and Tin plate sheet, having PCT 7210.1290 and 11,000-kg weightage under Section 79(1) of ... Read More »

Dairy sector enjoys concessions: Bajwa insists FBR empowered to issue SROs

Bajwa

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa said that the government did not violate any law while issuing statutory regulatory orders (SROs), saying that the federal government had the legal authority to revise tax rates under Income Tax Ordinance 2001, Sales Tax Act, 1990 and Federal Excise Act, 2005. Talking to the media at Parliament House here, Tariq ... Read More »

Fate of MoUs in jeopardy: LHC questions interpretation of Section 2(22A) of STA

LHC

LAHORE: The Lahore High Court (LHC) has termed interpretation of Section 2 (22A) of Sales Tax Act by FBR contrary to the essence of Sales Tax Law, questioning the legal status of Memoranda of Understandings (MOUs) recently signed between the Federal Board of Revenue (FBR), the Sindh Revenue Board (SRB) and Punjab Revenue Authority (PRA). A single bench of the ... Read More »