Author: Hamza Shahnawaz

  • Exchange rates: PKR to GBP on December 20, 2021

    Exchange rates: PKR to GBP on December 20, 2021

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on December 20, 2021:

    Buying: Rs 236.50 to the UK Pound Sterling

    Selling: Rs 239.00 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 10:34 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rates: PKR to EUR on December 20, 2021

    Exchange rates: PKR to EUR on December 20, 2021

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on December 20, 2021:

    Buying: Rs 200 to the Euro

    Selling: Rs 202 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 10:28 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rates: PKR to SAR on December 20, 2021

    Exchange rates: PKR to SAR on December 20, 2021

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on December 20, 2021:

    Buying: Rs 47.10 to the Saudi Riyal

    Selling: Rs 47.60 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 10:19 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Making reference against ATIR decision

    Making reference against ATIR decision

    Section 47 of Sales Tax Act, 1990 has defined making reference against Appellate Tribunal Inland Revenue (ATIR) decision.

    The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021.

    Following is the text of section 47 of the Sales Tax Act, 1990:

    47. Reference to the High Court.—(1) Within ninety days of the communication of the order of the Appellate Tribunal under sub-section (2) of section 46, the aggrieved person or any officer of Inland Revenue not below the rank of an Additional Commissioner, authorized by the Commissioner may prefer an application in the prescribed form along with a statement of the case to the High Court, stating any question of law arising out of such order.

    (2) The statement to the High Court referred to in sub-section (1), shall set out the facts, the determination of the Appellate Tribunal and the question of law, which arises out of its order.

    (3) Where, on an application made under sub-section (1), the High Court is satisfied that a question of law arises out of the order referred to in sub-section (1), may proceed to hear the case.

    (4) A reference to the High Court under this section shall be head by a bench of not less than two judges of the High Court and, in respect of the reference, the provisions of section 98 of the Code of Civil Procedure, 1908 (Act V of 1908) shall apply, so far as may be, notwithstanding anything contained in any other law for the time being in force.

    (5) The High Court upon hearing a reference under this section shall decide the question of law raised by the reference and deliver judgment thereon specifying the grounds on which such judgment is based and the order of the Tribunal shall stand modified accordingly. The Court shall send a copy of the judgment under the seal of the Court to the Appellate Tribunal.

    (6) The cost of any reference to the High Court shall be in the discretion of the Court.

    (7) Notwithstanding that a reference has been made to the High Court, the tax shall be payable in accordance with the order of the Appellate Tribunal:

    Provided that, if the amount of tax is reduced as a result of the judgment in the reference by the High Court, and amount of tax found refundable by the High Court, the High Court may on application by an Additional Commissioner authorized by the Commissioner within thirty days of the receipt of the judgment of the High Court that he intends to seek leave to appeal to the Supreme Court, make an order authorizing the Collector to postpone the refund until the disposal of the appeal by the Supreme Court.

    (8) Where recovery of tax has been stayed by the High Court by an order, such order shall cease to have effect on the expiration of a period of six months following the day on which it is made unless the reference is decided, or such order is withdrawn, by the High Court earlier.

    (9) Section 5 of the Limitation Act, 1908 (IX of 1908), shall apply to an application made to the High Court under sub-section (1).

    (10) An application under sub-section (1) by a person other than the Additional Commissioner authorized by the Commissioner shall be accompanied by a fee of one hundred rupees.

    (11) Notwithstanding anything contained in any provision of this Act, where any reference or appeal was filed with the approval of Commissioner by the officer of lower rank than the Commissioner, and the reference or appeal is pending before an appellate forum or the Court, such reference or appeal shall always be deemed to have been so filed by the Commissioner.

    (Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

  • Filing appeal before Appellate Tribunal IR

    Filing appeal before Appellate Tribunal IR

    Section 46 of the Sales Tax Act, 1990 delineates the procedures for filing appeals before the Appellate Tribunal Inland Revenue.

    (more…)
  • Today’s currency exchange rates in PKR – Dec 18, 2021

    Today’s currency exchange rates in PKR – Dec 18, 2021

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on December 18, 2021 (The rates are updated at 11:33 AM Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)126.50128.00
     Bahrain Dinar (BHD)386.85388.60
     Canadian Dollar (CAD)139.00141.00
     China Yuan (CNY)23.5023.90
     Danish Krone (DNK)23.5023.80
     Euro (EUR)201.00202.50
     Hong Kong Dollar (HKD)16.7517.00
     Indian Rupee (INR)2.032.10
     Japanese Yen (JPY)1.411.44
     Kuwaiti Dinar (KWD)481.80484.30
     Malaysian Ringgit (MYR)36.5036.85
     NewZealand $ (NZD)96.5597.25
     Norwegians Krone (NOK)17.5017.75
     Omani Riyal (OMR)392.75394.78
     Qatari Riyal (QAR)39.9040.50
     Saudi Riyal (SAR)47.4049.00
     Singapore Dollar (SGD)129.00130.50
     Swedish Korona (SEK)18.5018.75
     Swiss Franc (CHF)159.90160.80
     Thai Bhat (THB)4.804.90
     U.A.E Dirham (AED)49.5050.00
     UK Pound Sterling (GBP)237.00239.50
     US Dollar (USD)180.50181.80

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rates: PKR to USD on December 18, 2021

    Exchange rates: PKR to USD on December 18, 2021

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on December 18, 2021:

    Buying: Rs 180.50 to the US Dollar

    Selling: Rs 181.80 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 11:03 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rates: PKR to AED on December 18, 2021

    Exchange rates: PKR to AED on December 18, 2021

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on December 18, 2021:

    Buying: Rs 49.50 to the UAE Dirham

    Selling: Rs 50.00 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 10:52 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rates: PKR to GBP on December 18, 2021

    Exchange rates: PKR to GBP on December 18, 2021

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on December 18, 2021:

    Buying: Rs 237.00 to the UK Pound Sterling

    Selling: Rs 239.50 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 10:48 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rates: PKR to EUR on December 18, 2021

    Exchange rates: PKR to EUR on December 18, 2021

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on December 18, 2021:

    Buying: Rs 201.00 to the Euro

    Selling: Rs 202.50 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 10:43 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.