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Sales Tax Act 1990

‘Fake’ purchase of coal by cement makers: Abrupt transfer of officers halts probe into Rs11bn tax fraud

KARACHI: The Federal Board of Revenue (FBR) has reportedly halted investigations into an alleged Rs11 billion tax...

Updated 10 Dec, 2024 03:25pm

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

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

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

‘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

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

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

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

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

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

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

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

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

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

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Petrol/Litre / Dec 21	252.10
Karachi Cotton PKR/37.32 KG / Dec 21	17,585

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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Sales Tax Act 1990

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