FBR advises implementation of sales tax, federal excise measures from July 01

KARACHI: The Federal Board of Revenue (FBR) has advised Customs to implement sales tax and federal excise budgetary measures with effect from July 01, 2019.

Section 5 of the Sales Tax Act, 1990 and section 10 of the Federal Excise Act, 2005 pertain to application of changes in rate or value.

The same are re-reproduced below:

  1. Change in the rate of tax, if there is a change In the rate of tax-

(a) a taxable supply made by a registered person shall be charged to tax at such rate as is in force at the time of supply;

(b) imported goods shall be charged to “tax at such rate as” is in force: in case the goods are entered for home consumption, on the date on a goods declaration is presented under section 79 of the Customs Act, 1969; in case the goods are cleared from warehouse, on the date on which a goods declaration for clearance of such goods is presented under section 104 of the Customs Act, 1969;

Provided that where a goods declaration is presented in advance of the arrival of the conveyance by which the goods are imported, the tax shall be charged as is in force on the date on which the manifest of the conveyance is delivered.

Provided further that if the tax is not paid within seven days of the of the goods declaration under section 104 of the Customs Act, the tax shall be charged at the rate as is in force on the date on which tax is actually paid.

Section 10 of the Federal Excise Act, 2005 reproduced as under.

  1. Applicable value and rate of duty:

The value and the rate of duty applicable to any goods or services shall be the value, retail price, tariff value and the rate of duty in force:

in the case of goods, on the date on which the goods are supplied for export or for home consumption;

in the case of services, on the dale on which the services are provided or rendered: and

in case of goods produced or manufactured outside the areas to which this Act has been applied and brought to such areas for sale or consumption therein, the date on which the goods are brought to those areas.

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