Text of (SALES TAX) SRO 490(I)/2004.

GOVERNMENT OF PAKISTAN
MINISTRY OF FINANCE, ECONOMIC AFFAIRS,
STATISTICS AND REVENUE
(REVENUE DIVISION)

Islamabad, the 12th June, 2004

NOTIFICATION
(SALES TAX)
SRO 490(I)/2004.- In exercise of the powers conferred by clause (b) of sub-section (1) of section 8 of the Sales Tax Act, 1990, and in supersession of its Notification No. SRO 578(I)/98, dated the 12th June, 1998, the Federal Government is pleased to specify that the following goods, acquired otherwise than as stock in trade, by a registered person, to be the goods in respect of which input tax shall not be claimed, namely:-
(a) vehicles falling in chapter 87 of the First Schedule to the Customs Act, 1969 (IV of 1969);
(b) food, beverages, garments, fabrics, etcetera and consumption on entertainment; and
(c) gifts and give-aways.
Explanation:-For the purpose of this Notification, the term "stock in trade" shall mean goods purchased by a registered person in the course of business for sale as such or after further processing or manufacture.
[C. No. 1/33-STB/2004]
(Shahid Ahmad)
Additional Secretary