SHC allows return of surety after custom’s nod
KARACHI: A divisional bench of High Court of Sindh (SHC) on Wednesday allowed return of surety deposited with the Nazir of SHC against provisional release of consignments of rubber. The…
Internal Audit points short-realization of revenue by MCC Gwadar
KARACHI: The Directorate of Internal Audit – Customs has made an observation that MCC Gwadar short-realized an amount of Rs53.102 million from ship breakers during 2014-15. The Audit Team comprising…
DG I&I appreciates performance of Directorate I&I Enforcement Karachi
KARACHI: The Director of Customs Intelligence & Investigation (Enforcement Karachi) Yaqoob Mako gave a presentation to Director General I&I Imtiaz Ahmed Khan regarding directorate’s performance, measures taken as well as…
PBC suggests solution to end impasse between Federation & Provinces
KARACHI: The Honorable High Court of Sindh yesterday granted a stay order against the Federal Government’s move to deny offset of input sales tax on services paid to provinces against…
APTMA urges implementation of agreement on Zero Rating
KARACHI: Chairman APTMA Tariq Saud Thursday said the Zero Rating Sales Tax issue to five export oriented Textile sector has been twisted by some elements of the Federal Board of…
ONO against M/s Leader AG set aside
KARACHI: The Collector of Customs Appeals Dr. Zulfiqar Ahmad Malik has set aside the order-in-original served on M/s Leader A.G by assistant collector adjudication penalizing the company for mis-declaring the…
Sales tax deduction being made through automated system
KARACHI: Controller General of Accounts (CGA) with the assistance of Federal Board of Revenue (FBR) has developed software, which is now being used for automated verification of Sales Tax Registration…
Total exports slides by 12.11% in 2015-16, imports 2.32%
KARACHI: Despite an effort of the government to enhance exports in 2015-16, the country’s goods export declined by 12.11 per cent to $20.802 billion in (July-June) 2015-16 from $23.667 billion…
SHC orders release of Q Mobile consignment imported by M/s Zawa Impex
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Justice Irfan Saadat Khan and Justice Arshad Hussain on Tuesday ordered that consignment of Q mobile phones imported by…
Chairman Customs Appellate Tribunal: SHC seeks para wise comments nu July 19
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Justice Irfan Saddat Khan and Justice Arshad Hussain on July 04, last working day of the week sought comments…
Custom Appellate Tribunal case: July 04 new date for hearing
KARACHI: The hearing of a constitutional petition seeking immediate appointment of Chairman to Special Customs Appellate Tribunals was adjourned till July 04 as a law officer for federal government sought…
FBR notifies rules to cross-check input, output tax adjustments
KARACHI: The Federal Board of Revenue (FBR) has linked the input and output tax credit with the return-filing of suppliers as well as buyers; and it would be the responsibility…
Appointment of Chairman Custom Appellate Tribunals: SHC adjourns hearing till July 01
KARACHI: A divisional bench of High Court of Sindh (SHC) headed by Justice Syed Hasan Azhar Rizvi on Monday adjourned till July 01, hearing of a petition seeking immediate appointment…
Sales tax deduction to be made through automated system from 1st July
KARACHI: Federal Board of Revenue (FBR) has developed a software for automated verification of Sales Tax Registration Number (STRN) and deduction of applicable rates of sales tax from the vendors’…
CCP issues policy note to FBR
KARACHI: The Competition Commission of Pakistan (CCP) has issued a Policy Note to the Federal Board of Revenue (FBR) to eliminate discrimination meted out to some market players of the…
SHC disposes off suit by Master Beverages Limited by consent of Custom authorities
KARACHI: Justice Junaid Ghaffar of High Court of Sindh on Thursday disposed of a suit filed by Master Beverages against Collector, Pakistan Customs Port Muhammad Bin Qasim and Customs Valuation…
Petition by Independent Media Corporation (Jang Group) in Sales Tax case adjourned till June 27
KARACHI: A divisional bench of High Court of Sindh (SHC) deferred till June 27, hearing of a constitutional petition filed by Independent Media Corporation (Jang Group) against Assistant Commissioner, Sindh…
Rs 869.12 bln budget presented, Education, Health gets huge allocation
KARACHI: Sindh government on Saturday presented a Rs869.12 billion provincial budget for fiscal year 2016-2017. The new budget contain expenditure as well as income approximately 15 per cent more as…
Sindh targets to collect Rs76 billion sales tax
KARACHI: Sindh envisages over 24 percent increase in its sales tax on services collection for the year 2016-17 to Rs76.012 billion, which the government intends to collect by streamlining tax…
Additional tax burdens in budget to increase cost of doing business: OICCI
KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) have complimented the Finance Minister Ishaq Dar for announcing bold measures to boost agriculture growth, and exports and in extending…