The Federal Board of Revenue has yet to withdraw sales tax exemptions or zero-rating facility granted through notifications for introduction of the reformed general sales tax (RGST).
Under the plan to implement RGST in phased manner, the FBR was required to abolish the sales tax exemptions granted through the statutory regulatory orders (SROs) under first phase of the RGST from October 1, 2010. So far, the board has not rescinded any exemption notifications or amended the relevant SROs. Similarly, sales tax zero-rating facility on local supplies available to different sectors through notifications has also not been taken away.
The amendments in the Sales Tax Act could be done through submission of the RGST Bill in the Parliament as committed by the government. The draft of the legislation of reformed GST on goods would be submitted to the national as well as it would be got approved from Standing Committees of Senate and National Assembly on Finance.
It has been reliably learnt that the implementation of the reformed GST may take few more weeks and it could be introduced before November 1, 2010.
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