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The automobile manufacturing companies, listed on Pakistan Stock Exchange (PSX), may adjust input tax to the extent of 95 percent of the output tax for that tax period and excess amount shall be carried forward to next tax period. The Federal Board of Revenue (FBR) said this in an SRO 36(I)/2020 issued here on Tuesday to amend SRO 1190(I)/2019.

Copyright Business Recorder, 2020

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