Trends - Sales Tax Act - Business Recorder

Sales Tax Act

FBR amends ST Act to harmonise it with IT law

LAHORE: The Federal Board of Revenue (FBR) has introduced amendments to the Sales Tax Act to harmonise it with...

Updated 14 Jul, 2024 09:38am

Business & Finance

Seeking stay from court against recovery: 30pc of disputed tax will be deposited with FBR under new Act

ISLAMABAD: Taxpayers have to deposit 30 percent of the determined tax with the Federal Board of Revenue (FBR) in...

Published 09 May, 2024 03:11am

Business & Finance

Punjab govt to amend Sales Tax Act to improve PRA efficiency: minister

LAHORE: Punjab Finance Minister Mujtaba Shujaur Rehman has said that the documentation of the economy was imperative...

Published 04 May, 2024 05:48am

Business & Finance

Tax-related disputes: SOEs allowed to adopt ADR facility before litigation

ISLAMABAD: The government has decided to allow state-owned enterprises (SOEs) to first avail the facility of the...

Published 25 Apr, 2024 03:05am

Business & Finance

Input tax adjustment time: ST Act doesn’t stipulate any condition or time limit

LAHORE: The Sales Tax Act does not stipulate any condition or restriction of time for adjustment of the input tax...

Published 06 Feb, 2024 05:00am

Business & Finance

Replacing defective parts of vehicles under warranty is not a taxable supply

LAHORE: A car manufacturer has proved that replacing defective parts of vehicles under warranty was not a taxable...

Published 16 Jan, 2024 05:44am

Units involved in tax fraud: FBR suggests new sections in ST Act for penal action

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed separate sections in the Sales Tax Act for suspension of...

Updated 27 Aug, 2023 09:36am

Draft amendments to income tax Ord: FBR seeks new powers for IR Commissioners

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to give all basic administrative powers of income tax law...

Updated 15 Aug, 2023 10:27am

Business & Finance

NOTES ON CLAUSES

Clause 3(1)? Seeks to amend section 2 (s) to enable Pakistan Customs ...

Published 10 Jun, 2023 05:01am

Centre-provinces declaration: Power transmission will be treated as ‘service’ from July 1

ISLAMABAD: The federal government and provinces have declared that the transmission of electricity would be treated...

Updated 06 Apr, 2023 08:45am

Business & Finance

Supply of sugar: LHC restrains FBR from setting minimum value

ISLAMABAD: The Lahore High Court (LHC) has restrained the Federal Board of Revenue (FBR) from the fixation of the...

Published 21 Dec, 2022 06:05am

Small retailers: fixed tax regime rationalized

Tax amounts shall be doubled if name of retailer does not appear on Active Taxpayers List

Updated 22 Jul, 2022 09:17am

Budgetary measures: FBR issues notifications

ISLAMABAD: The Federal Board of Revenue (FBR) has issued notifications for the implementation of the budgetary...

Updated 02 Jul, 2022 09:51am

Business & Finance

Registration as Tier-1 Retailers: Furniture industry seeks help of LCCI

LAHORE: The furniture industry has sought help of the Lahore Chamber of Commerce & Industry (LCCI) to get the...

Published 19 Jun, 2022 07:14am

Pakistan

DIA IR detects mega sales tax fraud

KARACHI: Directorate of Internal Audit (DIA), Inland Revenue (IR), Karachi has detected a mega sales tax fraud that...

Published 15 Jun, 2022 08:28am

Business & Finance

FY23 budget: EFS may be amended to restore GST-free procurement of inputs

ISLAMABAD: The government is expected to make major amendments to the Export Facilitation Scheme (EFS), 2021 in...

Published 07 Jun, 2022 05:47am

Business & Finance

Import of oxygen gas, cylinders: Sales tax exemption announced

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted sales tax on the import of oxygen gas, cylinders (for...

Published 04 Jun, 2022 04:18am

Above Rs50,000 purchase: Shabbar Zaidi concerned at likely withdrawal of CNIC condition

ISLAMABAD: Former Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has expressed serious concern over the...

Updated 09 May, 2022 09:43am

FBR to present draft IR Code to minister for approval

ISLAMABAD: The Federal Board of Revenue (FBR) will present the draft of the Inland Revenue Code to Finance Minister...

Updated 24 Apr, 2022 09:12am

Business & Finance

FBR allows field formations to seal Tier-1 retailers’ outlets

LAHORE: The Federal Board of Revenue (FBR) has allowed its field formations to seal Tier-1 retailers’ outlets by...

Published 01 Mar, 2022 05:34am

Non-integrated Tier-1 retailers: Huge penalty to be imposed before outlet de-sealing: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) will impose huge penalties on the non-integrated Tier-1 retailers...

Updated 20 Feb, 2022 09:01am

Business & Finance

FBR urged to facilitate one-shop retailers

LAHORE: President and founder of Friends Economic & Business Reforms (FEBR) and former vice-president of the...

Published 20 Feb, 2022 05:55am

GST on supplies: Charity hospitals suffer big setback

ISLAMABAD: Hospitals in Pakistan, especially those running on donations/charities have suffered the big setback due...

Updated 18 Feb, 2022 09:56am

Business & Finance

Re1 service charge on all invoices: FBR rebuts disinformation on social media

ISLAMABAD: Federal Board of Revenue (FBR) has strongly rebutted disinformation being spread on the social media...

Published 14 Dec, 2021 06:40am

Electric vehicles, kits: sales tax exemptions retained

ISLAMABAD: The government has decided to retain sales tax exemptions on electric vehicles and kits imported by local...

Updated 11 Dec, 2021 09:27am

Business & Finance

FBR overburdens LTOs by clubbing medium and large manufacturers together

LAHORE: The Federal Board of Revenue (FBR) has overburdened Large Taxpayer Offices (LTOs) by combining medium size...

Updated 25 Nov, 2021 08:04pm

Business & Finance

FBR urged to run manual procedure concurrently with online appeal system

KARACHI: Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to run the manual filing of...

Published 10 Nov, 2021 05:47am

GST dispute on power subsidy: ECC to give its decision on legality

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is to give its verdict on legality of...

Published 29 Sep, 2021 03:00am

Business & Finance

Tax machinery of govt: FTO concerned at 'coercive' recovery steps

LAHROE: The Federal Tax Ombudsman (FTO) has expressed concerns over the coercive recovery measures by tax ...

Published 21 Sep, 2021 04:10am

Business

FBR increases minimum prices of steel products

ISLAMABAD: In the wake of increased prices of steel products in the domestic and international markets, Federal ...

Published 12 Aug, 2021 04:34am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 17	278.60
USD PKR Interbank Buying / Dec 17	278.60
USD to Japanese Yen / Dec 17	1.05
USD to Swiss Franc / Dec 17	0.90
Pound Sterling to USD / Dec 17	1.27
Euro to USD / Dec 17	154.09

Stock	Volume
S&P 500 / Dec 16	6,074.08
Nasdaq / Dec 16	20,173.89
Dow Jones / Dec 16	43,717.48
India Sensex / Dec 17	80,962.81
Tokyo Nikkei / Dec 17	39,364.68
Hang Seng / Dec 17	19,777.10
FTSE 100 / Dec 17	8,214.43
Germany DAX 30 / Dec 17	20,290.76

Item	Value
Gold 10 Grams PKR / Dec 16	243,059.70
Crude Oil USD/Barrel / Dec 17	70.82
Karachi Cotton PKR/37.32 KG / Dec 17	17,585
Gold Spot USD/Ounce / Dec 17	2,654.67
Cotton US¢/pound / Dec 17	69.11
Petrol/Litre / Dec 18	252.10

Gainers
Losers
Leaders

Stock	Price
Dadabhoy Cement / Dec 17 Dadabhoy Cement Industries Limited(DBCI)	7.11 ▲ 1.00 (16.37%)
First Capital Equities / Dec 17 First Capital Equities Limited(FCEL)	6.74 ▲ 0.82 (13.85%)
Oilboy Energy / Dec 17 Oilboy Energy Limited(OBOY)	10.45 ▲ 1.00 (10.58%)
LSE Financial Serv. / Dec 17 LSE Financial Services Limited(LSEFSL)	18.32 ▲ 1.67 (10.03%)
Air Link Com. / Dec 17 Air Link Communication Limited(AIRLINK)	208.93 ▲ 18.99 (10.00%)
Data Agro / Dec 17 Data Agro Limited(DAAG)	126.58 ▲ 11.51 (10.00%)
Fazal Cloth / Dec 17 Fazal Cloth Mills Limited(FZCM)	179.55 ▲ 16.32 (10.00%)
Land Mark Spinning / Dec 17 Landmark Spinning Industries Limited(LMSM)	63.91 ▲ 5.81 (10.00%)
Pak Datacom / Dec 17 Pak Datacom Limited(PAKD)	94.49 ▲ 8.59 (10.00%)

Stock	Price
Tri-Star Power / Dec 17 Tri-Star Power Limited(TSPL)	5.51 ▼ -0.74 (-11.84%)
Gulshan Sp. / Dec 17 Gulshan Spinning Mills Limited(GSPM)	4.19 ▼ -0.51 (-10.85%)
Sanghar Sugar / Dec 17 Sanghar Sugar Mills Limited(SANSM)	32.02 ▼ -3.56 (-10.01%)
Aisha Steel (CPS) / Dec 17 Aisha Steel Mills Limited (CPS)(ASLCPS)	20.17 ▼ -2.24 (-10.00%)
Chakwal Spinning / Dec 17 Chakwal Spinning Mills Limited(CWSM)	53.72 ▼ -5.97 (-10.00%)
Leiner Pak Gelat / Dec 17 Leiner Pak Gelatine Limited(LPGL)	126.67 ▼ -14.07 (-10.00%)
Mari Petroleum / Dec 17 Mari Petroleum Company Limited(MARI)	809.76 ▼ -89.97 (-10.00%)
Quetta Textile / Dec 17 Quetta Textile Mills Limited(QUET)	17.73 ▼ -1.97 (-10.00%)
Fateh Ind. / Dec 17 Fateh Industries Limited(FIL)	120.57 ▼ -13.37 (-9.98%)

Stock	Volume
WorldCall Telecom / Dec 17 Worldcall Telecom Limited(WTL)	403,228,918 ▼ -0.06
Pak Elektron / Dec 17 Pak Elektron Limited(PAEL)	107,379,306 ▲ 3.33
Cnergyico PK / Dec 17 Cnergyico PK Limited(CNERGY)	59,584,754 ▼ -0.06
B.O.Punjab / Dec 17 The Bank of Punjab(BOP)	57,023,129 ▲ 0.59
Pak Refinery / Dec 17 Pakistan Refinery Limited(PRL)	55,947,968 ▲ 3.65
Sui South Gas / Dec 17 Sui Southern Gas Company Limited(SSGC)	42,917,218 ▲ 1.17
PIA Holding Co.Ltd / Dec 17 PIA Holding Company Limited(PIAHCLA)	36,337,248 ▲ 1.16
Fauji Foods Ltd / Dec 17 Fauji Foods Limited(FFL)	33,958,478 ▼ -0.28
Hub Power Co. / Dec 17 The Hub Power Company Limited(HUBC)	33,067,460 ▲ 11.97

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