Input tax claim and credit: SC defines applicability of Section 8 of Sales Tax Act ISLAMABAD: The Supreme Court observed that Section 8 of the Sales Tax Act, 1990, only prohibits the claim, credit or... Updated 17 Nov, 2024 09:38am
Pakistan Review plea against apex court verdict: SC rules on Section 45B(2) of ST Act provisos ISLAMABAD: The Supreme Court by majority declared that first and second provisos to Section 45B(2) of the Act are... Published 14 Nov, 2024 08:16am
Print Sales tax condonation for time limit: FBR issues ‘checklist’ for taxpayers ISLAMABAD: The Federal Board of Revenue (FBR) has issued a “checklist” for processing of condonation cases of... Updated 19 Sep, 2024 08:51am
Business & Finance Commissioner IR tells APTMA member mills: FBR devises three automated systems to streamline payment system LAHORE: Raza Ashfaq Sheikh, Commissioner Inland Revenue and Member Sales Tax Appellate Tribunal Punjab, has ... Published 30 Aug, 2024 06:08am
Print Imported goods specified in Third Schedule: FBR empowered to fix value of supply ISLAMABAD: The Federal Board of Revenue (FBR) has been empowered to fix the value of supply in case of imported... Updated 06 Aug, 2024 09:07am
Print ‘Tax fraud’ definition expanded under revised Sales Tax Act 1990 ISLAMABAD: The “tax fraud” would cover any person, who would make taxable supplies without getting sales tax... Updated 26 Jul, 2024 09:40am
Business & Finance New section added to ST Act 1990: Concept of ‘investigative audit’ introduced ISLAMABAD: A major change having far-reaching consequences proposed in the Finance Bill 2024 is the introduction of... Published 13 Jun, 2024 06:22am
Business & Finance Exporter succeeds in obtaining input tax against alleged fake/flying invoices LAHORE: A silk manufacturer cum exporter has succeeded in obtaining input tax against the alleged fake/flying... Published 01 Dec, 2023 04:43am
Business & Finance Manufacturing premises: FBR refuses DA to IR staff ISLAMABAD: The Federal Board of Revenue (FBR) has refused to grant daily allowance (DA) to the officers/ staff of... Published 23 Nov, 2023 03:19am
Print I&I-IR detects illegal adjustments of Rs70bn input tax ISLAMABAD: The Directorate General Intelligence and Investigation Inland Revenue (I&I-IR)’s national... Updated 15 Oct, 2023 09:37am
Pakistan Two accused held under Section 37A of ST Act 1990 ISLAMABAD: In an effort to curb the menace of fake and flying invoices, Directorate of Inland Revenue Intelligence... Published 29 Sep, 2023 06:24am
Print 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
Print Sale tax law: expert approves of new definition of ‘tax fraud’ ISLAMABAD: The acquirers or possessors (traders) of smuggled/ domestic goods, on which sales tax has not been paid,... Updated 31 Jul, 2023 09:46am
Print FBR to ‘sell’ excise rules, general orders, departmental rulings to public ISLAMABAD: The Federal Board of Revenue (FBR) will “sell” federal excise rules, general orders and departmental... Updated 06 Jul, 2023 08:39am
Print Track & trace system scheme not violative of sales tax law: IHC ISLAMABAD: Islamabad High Court (IHC) has ruled that the entire scheme of the track and trace system of the Federal... Updated 01 May, 2023 09:04am
Business & Finance Computerised arms licences: FBR asked to confirm sales tax chargeability ISLAMABAD: The Federal Tax Ombudsman (FTO) on Tuesday directed the Federal Board of Revenue (FBR) to confirm the... Published 15 Mar, 2023 06:01am
Business & Finance Tier-1 retailers unhappy with direct imposition of ‘highest’ penalty LAHORE: The Tier-1 Retailers (T-1Rs) are offended with direct imposition of the highest degree of penalty by the... Published 05 Mar, 2023 03:36am
Business & Finance Well-known outlet sealed over failure to install PoS app RAWALPINDI: The Regional Tax Office (RTO), Rawalpindi, on Thursday sealed a famous business outlet over failure to... Published 03 Mar, 2023 06:12am
Pakistan RTO Peshawar seizes huge quantity of illicit goods ISLAMABAD: The mobile squads of the Regional Tax Office (RTO) Peshawar have seized a huge quantity of goods ... Published 20 Jan, 2023 06:10am
Business & Finance Sugar industry: Major problems detected in FBR’s track & trace system LAHORE: If not completely then largely, the Federal Board of Revenue’s track & trace system has failed to... Published 24 Aug, 2022 05:08am
Business & Finance Less than Rs100m GST liability: Tax-related disputes can’t be brought before FBR ISLAMABAD: Taxpayers now cannot bring tax-related disputes before the Federal Board of Revenue (FBR) involving sales... Published 23 Jul, 2022 04:10am
Business & Finance Federal Capital: Majority of restaurants, eateries involved in ST evasion ISLAMABAD: A majority of restaurants and eateries in the federal capital are involved in massive sales tax evasion... Updated 28 Jun, 2022 02:13pm
Print Sales tax on specified goods: FTO directs FBR to recover the amount evaded in last three years ISLAMABAD: The Federal Tax Ombudsman (FTO), while deciding its own motion investigation has ordered the Federal... Updated 31 May, 2022 10:11am
Business & Finance Steel melters urge govt to review stance on track, trace system LAHORE: Pakistan Steel Melters Association on Monday said that the government should review its decision of... Published 31 May, 2022 05:11am
Print Private hospitals, NGOs, charities not having STRNs: FBR to charge 3pc more sales tax ISLAMABAD: The Federal Board of Revenue (FBR) will charge three percent further sales tax on supplies made to the... Updated 28 May, 2022 10:24am
Print GST calculation, levy: FBR clarifies discount on standardized tax invoice ISLAMABAD: The Federal Board of Revenue (FBR), Friday, clarified that the sales tax will be calculated and charged ... Updated 19 Mar, 2022 04:23pm
Business & Finance SSGC: LTO Karachi attaches bank accounts KARACHI: Large Taxpayers Office (LTO), Karachi has attached all bank accounts of Sui Southern Gas Company Limited... Published 24 Feb, 2022 06:34am
Print Deadline for filing of ST returns extended ISLAMABAD: The Federal Board of Revenue (FBR) has extended dates for filing of Annex-C, payment and filing of sales... Updated 18 Jan, 2022 09:23am
Business & Finance Curbing GST evasion: FBR to outline ‘guide techniques’ for IROs ISLAMABAD: The Federal Board of Revenue (FBR) has decided to outline guide techniques for Inland Revenue Officers ... Published 08 Dec, 2021 06:22am
Print Local supply to be zero-rated: 17pc GST may be levied on import of pharma inputs Local supply of medicines may be sales tax zero-rated, but the import of raw materials could be made taxable Updated 24 Nov, 2021 10:19am