SHC issues pre-admission notices for Aug 25

KARACHI: Pre-admission notices were issued to respondents including Commissioner Income Tax for Aug 25 in a constitution petition filed by Engro Elengy Terminal Private Limited, by a division bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan. The bench earlier heard Hussain… Continue reading

Exporters also fear about fate of other refunds of income tax, customs rebate, duty drawback as Govt. still has not released billions of rupees, GOP must clear refunds in one go or reduce GST from 17% to 4% or restore Zero-Rating reinstating SRO 1125

Textile Exporters are annoyed and distressed in the wake of highest ever liquidity crunch being faced due to imposition of 17 percent GST whose refunds are excessively delayed by the Government without any justification which has caused hurdles in export production. Anti-Export moves of the Government in the hands of… Continue reading

SCAT allows appeals in Monosodium Gluatamate case

KARACHI: Deciding three identical appeals filed by Usama Enterprises, Marhaba Trading Corporation and  Universal Trading, Special Customs Appellate Tribunal headed by its chairman/member judicial II, Mr Sajid Abbasi, allowed the same on ground of jurisdiction and delayed action by the respondent customs authorities. The respondents include Collector Custom (Appeals), Additional… Continue reading

PHMA REQUEST FOR RELEASE OF OLD DEFERRED SALES TAX REFUND & INCOME TAX REFUND CLAIMS AND RESTORATION OF RATING OF SALES TAX – NO PAYMENT NO REFUND REGIME

Pakistan Hosiery Manufacturers & Exporters Association profoundly appreciates the government’s initiative to expedite refunds to exporters under FASTER system. However, in order to ease and facilitate exporters liquidity problems in this most difficult times, PHMA also requests for release of old deferred sales tax refund & income tax refund claims… Continue reading

SHC adjourns hearing in petitions challenging detention of goods

KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan adjourned proceedings in a number of identical petitions. As the hearing in petitions commenced, counsel for one of the petitioners on a query by the court submitted that the… Continue reading

Customs restrained from coercive action against Spectrum, Kanwal Enterprises

KARACHI: A customs appellate bench of High Court of Sindh has restrained Pakistan Customs from taking coercive action against Spectrum Enterprises till Sept 19. The bench was hearing a petition filed by these importer against Directorate of Intelligence which has registered a FIR alleging evasion of Sales Tax and Income… Continue reading

SHC stays imposition of Income Tax on turnover of service provider

KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Muhammad Shafi Siddiqui and Justice Mahmood A Khan on Friday restrained Income Tax authorities from levying income tax on turnover of a service provider company. S.M.S Global Private Limited moved the court through counsel Ms Dil Khurram Shaheen… Continue reading

Income tax slabs for salaried class revised

KARACHI: The PTI government has revised the tax slabs for salaried persons vide Finance Bill 2019. Income of an individual chargeable under the head ‘salary’ exceeds 75 percent of the his taxable income, the rates of tax to be applied will be as follows. Where taxable income does not exceed… Continue reading

SHC orders compliance of order passed earlier Shahzad Industries case

KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Adnan Iqbal Chaudhary on Tuesday directed the custom officials of Port Muhammad Bin Qasim (PMBQ) Collectorate to ensure compliance of order passed on 25-4-2019 and submit a compliance report by  May 24,… Continue reading