Judgment reserved in Sales Tax petitions

KARACHI: The judgment was reserved in a bunch of petitions filed against issuance of show cause notices by Sales Tax Authorities in violation of section25/72 of the Sales Tax Act 1990. A division bench of High Court of Sindh (SHC) comprising Justice Junaid Ghaffar and Justice Agha Faisal earlier on… Continue reading

Restoration of Zero Rating on Sales Tax – No Payment No Refund is indispensible to resolve liquidity problem of exporters: PDMEA

To resolve liquidity problem of exporters, restoration of Zero Rating on Sales Tax – No Payment No Refund Regime reinstating SRO 1125 is highly indispensible. The current volume of Pakistan exports cannot unsurpassed unless the burning liquidity problem being faced by exporters is not addressed by the Government. To achieve… Continue reading

Restoration of zero-rating of Sales tax to exporters demanded by PAKSEA

The value added textile export sector has reached to the verge of disaster due to severest ever liquidity crisis in the history of Pakistan caused due to imposition of 17% sales tax in last budget whereby liquidity worth billions of rupees has been stuck up with the Government. Last year,… 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

Eradicate corruption, make appointments on merit in custom Appellate tribunal, says lawyers

KARACHI: The lawyers practising on customs, inland revenue have advocated purging the custom Appellate tribunal of  corruption and instead of disbanding it improve the same by appointing members and chairman on merit alone.   They were expressing their views in the backdrop of an interview by federal law Minister Dr Farogh… Continue reading

SHC restrains Customs Preventive from coercive recovery from BOYCO Petroleum

KARACHI: The Pakistan Customs Preventive was restrained by a division bench of High Court of Sindh from coercive recovery if Rupees 550 Million as areaes of Sales Tax and Petroleum Levy for the the tax year 2015 – 2020 from BOYCO Petroleum. The bench comprising Justice Aqeel Ahmed Abbasi  and… Continue reading

SHC allows supply on securing Sales Tax other levies with collectorate concerned HSD for Byco Tug Boats-Dispute over Exemption

KARACHI: Hearing a petition filed by  BYCO Petroleum company, a customs appellate bench of High Court of Sindh allowed supply of HSD to tug boat of petitioner company on securing amount of Sales Tax and other taxes with the concerned collectorate. Earlier a counsel from Franklin Law Associates appearing for… Continue reading