Green Cycle Challenges FIR by MCC Port Qasim
KARACHI: M/s Green Cycle has contested the FIR lodged against them by MCC Port Qasim. The FIR accuses M/s Green Cycle Enterprises of attempting to clear goods by mis-declaring their…
Budget High Lights
1. Reduction in rate of capital gains tax on disposal of securities from 15% to 12.5%, reveal budget documents. 2. Defence spending to be Rs1.37 trillion in the upcoming year.…
Pakistan Customs restrained from issuing notices to clearing agent, Non Payment of Federal Excise Duty
KARACHI: Pakistan Customs was restrained by a customs appellate bench of High Court of Sindh, from sending demand notices to clearing agents in respect of Federal Excise Duty against imported…
Federal Excise Duty given in the jurisdiction of Inland Revenue Intelligence and Investigation
KARACHI: The Federal Board of Revenue (FBR) has included the Federal Excise within the ambit of Directorate General Intelligence and Investigation – Inland Revenue and notified the function of the…
Sales tax increased on finished articles
KARACHI: Finance Bill 2018 proposes that the rate of sales tax on import and supply of finished articles of leather and textile sector is being increased to 9.0 percent. However,…
FBR grants exemptions to China State Construction Engineering Corporation
KARACHI: The Federal Board of Revenue (FBR) has exempted from whole of the sales tax and federal excise duty on the imported construction materials and goods imported by M/s China…
Imposed FED to dampen cement industry’s growth
KARACHI: The government’s decision to increase Federal Excise Duty (FED) on Cement from five per cent to Rs 50 on a 50-kilogram bag, will not only increase Rs 22 on…
FED on services withdrawn
KARACHI: The much awaited withdrawal of the federal excise duty (FED) on services, which are now subject to provincial sales tax, has been proposed in the Finance Bill 2016. In…
Customs Tribunal special bench relinquishes penalty, fine in appellant favour
KARACHI: The Customs, Federal Excise and Sales Tax Appellate Tribunal, Special Branch Karachi comprising Ghulam Murtaza Bhatti, Member (Judicial) and Khawaja Umar Mehdi Member (Technical) deciding an appeal filed by…
Customs Adjudication penalizes lubricating oil importers
KARACHI: Collector Customs Adjudication Ch. Mohammad Javed has penalized several lubricating oil importers for evading Federal Excise Duty levied on import of lubricating oil under PCT 2710.1951 and 2710.1952. The…
SHC seeks assistance in FED case filed by Colgate Palmolive
KARACHI: – The counsel for respondent Inland Revenue and petitioner Colgate Palmolive Pak Ltd were asked by a Sindh High Court bench here Thursday to assist on law point that…
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…
PTBA demands immediate stop of PRAL network for tax system
KARACHI: Tax fraternity has advised the Federal Board of Revenue (FBR) to stop working of automated tax system – developed by Pakistan Revenue Automation (Pvt) Limited (PRAL) – forthwith as…
FBR further extends last date for payment, e-filing sales tax/FED
KARACHI: Owing to political tension in the country and irritants in e-filing the Federal Board of Revenue (FBR) has further extended the last date for filing sales tax/Federal Excise Duty…
FBR extends last date for sales tax, FED payment and return filing
KARACHI: The Federal Board of Revenue (FBR) has extended the last date for one week for payment of sales tax and federal excise duty and filing of sales tax/federal excise…
FBR officials directed to implement revenue measures of revised sales tax, FED
KARACHI: The Federal Board of Revenue (FBR) has directed its officials to properly implement the revenue measures of revised sales tax and federal excise duty (FED) which have been taken…
Budget proposals 2014-2015: elimination of FED demanded on locally manufactured motor vehicles 1800cc or above
KARACHI: The business industry has demanded the government to eliminate federal excise duty (FED) on locally manufactured motor vehicles of 1800cc and above those who are falling under HS code…
Date extended for payment, filing of returns of sales tax and federal excise duty
KARACHI: The Federal Board of Revenue (FBR) has extended the last date for payment of taxes/duty and filing of sales tax / federal excise duty returns for the period April…