Customs Valuation fixes import values of Coke
KARACHI: The Directorate General of Customs Valuation has fixed the customs values of Coke vide Valuation Ruling no. 753/2015. The Customs values of Coke (H.S Code 2704.0010) were determined under…
Federal government revises rate of sales tax as envisaged in SRO 1125(I)/2011
KARACHI: The Federal government through amendments in SRO 1125(I)/2011 has notified revised rate of sales tax on import and supply of goods usable as industrial inputs as well as finished…
Federal government eliminates FED exemptions
KARACHI: The Federal government has restored federal excise duty (FED) on air-travel, motor vehicle and viscose staple fiber import, banking services and advertisement in print publications. The government had accorded…
Increase in FED on cigarettes vide SRO 481(I)/2015 rescinded
KARACHI: The Federal government has withdrawn the increase in federal excise duty on cigarettes, which was earlier notified vide SRO 481 (I)/2015. According to SRO 495(I)/2015 issued on July 01,…
Withholding agents barred from adjusting input tax
KARACHI: The Federal Board of Revenue (FBR) has barred the withholding agents from adjusting input tax on purchases and advised the agents to deposit the sales tax withheld in the…