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…
CCP tells SRB, PRA to withdraw sales tax exemptions
KARACHI: The Competition Commission of Pakistan (CCP) has advised Sindh Revenue Board (SRB) and Punjab Revenue Authority (PRA) to withdraw the exemptions granted to the informal, non-corporate transporters of goods,…
Sales Tax for steel sector enhanced
ISLAMABAD: The federal government has proposed to enhance fixed rate basis on steel sector, ship breakers and steel melters. Sales tax on steel sector, including ship breaking sector in the…
FED on services withdrawn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…
Gwadar Port gets 40-year sales tax, excise duty holiday
KARACHI: Federal government through the Finance Bill 2016 has granted 40-year exemption from sales tax and federal excise duty on imports and supplies to concession holder of Gwadar Port Authority…
SHC declares taxing services is provincial domain, declares Federal Excise Act ultra vires after 18 th amendment
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Abdul Malik Gaddi declared the Federal Excise Act as ultra vire of the Constitution…
Sales tax on petroleum products reduced
KARACHI: The government has reduced sales tax rates on petroleum products to keep the end consumer prices unchanged during the month of June 2016. The rate of sales tax on…
SHC issue notices in Customs appeal against Master Beverages Pvt,Ltd
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Abdul Malik Gaddi on Monday ordered issuance of notices for June 06 to Master…
Export of perishable goods allowed without requirement of Form-E
KARACHI: The Export Policy Order 2016 has allowed export of perishable goods to Afghanistan and Central Asian Republic on filing of regular shipping bills without the requirement of Form-E. This…
SHC allows 10 day’s to Customs for deciding 3 year old case
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Tuesday allowed ten days to the Pakistan Customs,…
Tax concessions demanded on LPG import
KARACHI: LPG Distributors Association in their budget proposals has recommended withdrawing general sales tax (GST) and advance tax on LPG imports. Chairman LPG Distributors Association Irfan Khokhar said government should…
Skimmed milk importer penalized for availing inadmissible concessions
KARACHI: Additional Collector Customs Adjudication Syed Mahmood Hassan has penalized the skimmed milk importer M/s Irfan Brothers for claiming inadmissible concessions through mis-declartion. According to the details, Directorate General of…
Notices issued in petition by importer of Mobile phones
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Friday issued notices to the Pakistan Custom and…
FBR withdraws zero rating
KARACHI: The Federal Board of Revenue (FBR) has withdrawn zero-rated sales tax on supply of electricity granted to four export oriented companies. The facility available to Rana Weaving, Mushtaq &…
Master Beverages & Food Limited caught evading government revenue
KARACHI: MCC Port Qasim has detected the largest ever duty/tax evasion on just one consignment to the tune of Rs170 million by M/s Master Beverages and Food Limited, Gujranwala, a…
Pakistan Customs post 14.2 percent growth in revenue collection
KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. ten months (July-April 2016) has surged by 14.2 percent to Rs860 billion as against Rs753…
Textile company penalized for evading government revenue
KARACHI: Collector Customs Adjudication Chaudry Mohammad Javaid has imposed a penalty of Rs5.0 million on M/s Magna Textile Industries Pvt Ltd along with the payment of Rs25.57 million duty/taxes evaded…
SHC restores Sales Tax appeal allowing plea of personal ailment by lawyer
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Justice Muneeb Akhtar and Justice Abdul Malik Gaddi on Monday allowed an application for restoration of an Income Tax…
PCA serves contravention of M/s Pakistan Mobile Communication
KARACHI: Director Post Clearance Audit Karachi Gul Rehman has served Contravention on M/s Pakistan Mobile Communication Ltd to pay in the national exchequer an amount of Rs304.97 million, which was…
Judgment reserved in Power Generators concession case
KARACHI: Justice Muhammad Junaid Ghaffar of High Court of Sindh (SHC) on Friday reserved judgment in suits filed by Artistic Fabrics Limited and others seeking 5 per cent concession on…