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Category: Taxation

Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.

  • List of transactions not to attract 100 percent increased withholding tax

    List of transactions not to attract 100 percent increased withholding tax

    KARACHI: The Finance Bill 2019 has proposed a new schedule related to compliance with 100 percent increased withholding tax rates to persons not appearing on Active Taxpayers List (ATL).

    Deloitte Yousuf Adil, Chartered Accountants in their budget commentary said that the increased withholding tax rates specified under this schedule are inapplicable with respect to following payments and related withholding tax provisions in the case of Person not appearing in the Active Taxpayer list:

    Salary under section 149 of Income Tax Ordinance, 2001

    Export under section 154 of Income Tax Ordinance, 2001

    Income from Property under section 154 of Income Tax Ordinance, 2001

    Withdrawal of Balance under Pension Fund under section 156B of Income Tax Ordinance, 2001

    Cash withdrawal from Bank under section 231A of Income Tax Ordinance, 2001

    Advance Tax on Transactions in Bank under section 231AA of Income Tax Ordinance, 2001

    Collection of Tax by NCCPL under section 233AA of Income Tax Ordinance, 2001

    Electricity Consumption under section 235 of Income Tax Ordinance, 2001

    Domestic Electricity Consumption under section 235A of Income Tax Ordinance, 2001

    Tax on Steel Melters, Re-Rollers etc under section 235B of Income Tax Ordinance, 2001

    Advance Tax on Purchase of Air Tickets under section 236B of Income Tax Ordinance, 2001

    Advance Tax on Functions and Gatherings under section 236D of Income Tax Ordinance, 2001

    Advance Tax on Cable Operators and Other Electronic Media under section 236F of Income Tax Ordinance, 2001

    Collection of Advance Tax by Educational Institutions under section 236I of Income Tax Ordinance, 2001

    Advance Tax on Dealers, Commission Agents and Arthis etc under section 236J of Income Tax Ordinance, 2001

    Advance Tax on Purchase of International Air Tickets under section 236L of Income Tax Ordinance, 2001

    Advance Tax on Banking Transactions otherwise than through Cross Cheque under section 236P of Income Tax Ordinance, 2001

    Payment to residents for use of machinery and equipment under section 236Q of Income Tax Ordinance, 2001

    Collection of advance tax on education related expenses remitted abroad under section 236R of Income Tax Ordinance, 2001

    Advance Tax on Insurance Premium under section 236U of Income Tax Ordinance, 2001

    Advance Tax on extraction of minerals under section 236V of Income Tax Ordinance, 2001

    Advance Tax on Tobacco under section 236X of Income Tax Ordinance, 2001

  • Customs duty concessions allowed on 1650 raw materials

    Customs duty concessions allowed on 1650 raw materials

    KARACHI: The government has allowed customs duty concessions on import of 1650 raw materials through Finance Bill 2019.

    According to Deloitte Yousuf Adil, Chartered Accountants, the Finance Bill proposed to introduce concession of Customs Duty on import of 1650 raw materials/industrial inputs.

    Major items are listed as follows:


     

    PCT codeDescriptionRate
    2710.1911Kerosene0
    2710.1913J.P.40
    2710.1998Spin finish oil0
    2711.1200Propane0
    2711.1300Butanes0
    2711.1400Ethylene, propylene, butylene and butadiene0
    2711.1910L.P.G.0
    2711.1990Other0
    2711.2100Natural gas0
    2711.2900Other0
    2805.1200Calcium0
    2805.1900Other0
    2805.4000Mercury0
    2808.0010Nitric acid0
    2808.0090Sulphonitric acids0
    2809.1000Diphosphorus pentaoxide0
    2809.2010Phosphoric acid0
    2814.1000Anhydrous ammonia0
    2814.2000Ammonia in auqeous solution0
    2817.0000Zinc oxide; zinc peroxide.0
    2818.3000Aluminium hydroxide0
    2819.1000Chromium trioxide0
    2819.9010Chromium oxide0
    2819.9020Chromium hydroxide0
    2936.2100Vitamins A and their derivatives0
    2936.2200Vitamin B1 and its derivatives0
    2936.2300Vitamin B2 and its derivatives0
    2936.2400D- or DL-Pantothenic acid (Vitamin B3 or Vitamin B5) and its derivatives0
    2936.2500Vitamin B6 and its derivatives0
    2936.2600Vitamin B12 and its derivatives0
    2936.2700Vitamin C and its derivatives0
    PCT codeDescriptionRate
    2936.2800Vitamin E and its derivatives0
    2937.1200Insulin and its salts0
    3002.9010Human blood0
    3002.9020Animal blood0
    3105.2000Mineral or chemical fertilisers containing the three fertilising elements nitrogen, phosphorus and potassium0
    8427.1000Self- propelled trucks powered by an electric motor0
    8433.6000Machines for cleaning, sorting or grading eggs, fruit or other agricultural produce0
    8436.8000Other machinery0
    8444.0000Machines for extruding, drawing, texturing or cutting man- made textile materials.0
    8530.1000Equipment for railways or tramways0
  • MCC Peshawar announces auction of large quantity of confiscated vehicles

    MCC Peshawar announces auction of large quantity of confiscated vehicles

    ISLAMABAD: Model Customs Collectorate (MCC) Peshawar has announced auction of large quantity of confiscated vehicles to be held on June 20 and June 27, 2019 at various locations.

    Following vehicles to be presented for auction

    STATE WARE HOUSE, PESHAWAR

    1. Mercedes Benz (Bullet Proof) Model 1982, chassis no WDB-12603312037551.

    2. Honda Accord Motor Car 1985, chassis no JHMCA45300C002584.

    3. Mercedes Benz Truck Model 1995, chassis no WDB6770381K175873.

    4. Mitsubishi Pajero Jeep Model 2006, chassis no JMYLNV76W6J001329.

    5. Toyota Land Cruiser Prado Model 1999, chassis no LJ90-0002325.

    6. Toyota Hilux Pick Up 4X4 Model 1997, chassis no JT733LNA309004002.

    7. Toyota Hilux Pick Up Model 2007, chassis no MROCS12G400043443.

    8. Toyota Corolla Car Model 2000, chassis no JTDBT21E900015280.

    9. Toyota Corolla Car Model 2000, chassis no NZE121-0008741.

    10. Toyota Fielder Car Model 2002, chassis no NZE121-0134145.

    11. Toyota Fielder Car Model 2002, chassis no NZE121-0167095.

    12. Land Cruiser Station Wagon (Prado) Model 2000, chassis no LJ95-0010010.

    13. Mitsubishi Pajero Model 2006, chassis no JMYLNV76W6J001340.

    14. Toyota Land Cruiser Model 2004, chassis no LTERB71J800020686.

    15. Toyota Hilux Pick Up Model 2001, chassis no JTFDE626800061496.

    STATE WARE HOUSE MARDAN,

    1. Toyota Surf Model 1996,chassis no RZN185-0015007.

    STATE WARE HOUSE, ABBOTTABAD.

    1. Toyota Mark-X Car Model 2006, chassis no GRX120-0009539.

    2. Mazda Mini Dumper Model 1990 (as per Website), chassis no WGTAD-120362.

    STATE WARE HOUSE, FRONTIER CORPS.

    1. Daewoo Car Model 1992, chassis no KLATF19TINB-522281.

    2. Toyota 2D Corolla Car, 1992,chassis no EE101-3046367.

    3. Toyota Land Cruiser Model 1988, chassis no LJ-710003848.

    4. Mark-1 Motor Car Model Nil, chassis no LA3VS-216474.

    5. Motor Car Model 1978, chassis no M-430-300918.

    6. Toyota Corolla Car Model 1982, chassis no A171-A-8024009.

    7. Toyota Pick Up Model 1980, chassis no RN40-069388.

    8. Toyota State Car Model 1993 (as per Website), chassis no CE109-0013206.

    9. Toyota Corolla Car Model 2003 (as per Website), chassis no NZE120-6005014.

    10. Toyota Double Cabin Model 1996 (as per Website), chassis no JT133LNA409046824.

    11. Towance Model 1994 (as per Website), chassis no CR22-5016240.

    12. Suzuki Mehran Car Model 1989, chassis no SB308PK622878.

    13. Suzuki Pick Up Model 1991 (as per Website), chassis no DA51T-209323.

    14. Toyota State Car Model 1999 Diesel (as per Website), chassis no CE107-5007695.

    15. Toyota Fielder Car Model 2005 (as per Website), chassis no NZE121-0364064.

    16. Suzuki Pick Up Model 1990 (as per Website), chassis no DA51T-110473.

    17. Toyota Pick Up Double Cabin Model 1996 (as per Website), chassis no LN56-0075058.

    18. Toyota Fielder Car Model 2004 (as per Website), chassis no NZE121-0279705.

    19. Toyota Fielder Car Model 2005 (as per Website), chassis no NZE121-3344325.

    20. Toyota Vitz Car Model 2001 (as per Website), chassis no SCP10-0362449.

    21. Toyota State Car Model 1994 (as per Website),Chassis no CE106-0071483.

    22. Toyota Corolla Car Model 1992 (as per Website), chassis no CE100-3020027.

    23. Toyota Fielder Car Model 2004 (as per Website), chassis no NZE121-0318464.

    24. Toyota Mark-II Car Model 2001 (as per Website), chassis no JZX110-6022047.

    25. Toyota State Car Model 1996 (as per Website), chassis no CE106-60060535.

    26. Toyota Datsun Pick Up Model 1980 (as per Website), chassis no RN40-069388.

    27. Toyota Vitz Car Model 1999 (as per Website), chassis no SCP10-5001270.

    28. Toyota Fielder Car Model 2002 (as per Website), chassis no NZE121-0141062.

    29. Suzuki Alto Car Model 2002, chassis no HA23S-689157.

    30. Toyota Fielder Car Model 2003 (as per Website), chassis no NZE121-0272905

    31. Toyota Corolla Saloon Car Model 2004, chassis no ZZE121-9010983.

    32. Toyota State Car Model 1993 (as per Website), chassis no EE106-0038570.

    33. Toyota Vitz Car Model 2000 (as per Website), chassis no SCP10-5018680.

    34. Suzuki “VXR” Car Model 2004, chassis no HA23S-757052.

    35. Suzuki “VXR” Car Model Nil, chassis no HA23S-613292.

    36. Toyota State Car Model 1999 (as per Website), chassis no AE100-0309427.

    37. Toyota State Car Model 1998 (as per Website), chassis no EE103-0072565.

    38. Toyota State Car Model 1996 (as per Website), chassis no CE106-6006506.

    39. Toyota Vitz Car Model 2004 (as per Website), chassis no SCP10-0462520.

    40. Toyota Hilux Pick Up Model 1986 (as per Website), chassis no LN86-1005469.

    41. Mini Hino Truck Model 1999 (as per Website), chassis no FD1JP-10261.

    42. Honda Motor Cycle 125-CC Model Nil, chassis no U667327.

    43. Honda Motor Cycle CG-125 Model 2005,chassis no S74083.

    44. Honda Motor Cycle CG-125 Model 2003, chassis no D72343.

    45. Honda Motor Cycle CG-125 Model 2007, chassis no BJ017444.

    46. Honda Motor Cycle CG-125 Model 2001, chassis no PF012620.

    47. Honda Motor Cycle Deluxe 125CC Model 2006, chassis no BJ006783.

  • FBR warns unregistered industrial, commercial electricity consumers of imprisonment

    FBR warns unregistered industrial, commercial electricity consumers of imprisonment

    KARACHI: Federal Board of Revenue (FBR) has issued notices to unregistered commercial and industrial electricity connection holders to file their returns of incomes and sales otherwise from July 01 the tax authorities would initiate legal action that may lead to imprisonment.

    Large Taxpayers Unit (LTU) II Karachi issued notices to electricity connection holders of commercial and industrial, stating: “as per data available with FBR you are an Industrial / commercial consumer of electricity, meaning thereby electricity is being used for business purpose.”

    It is brought to your knowledge that every person engaged in making taxable supplies in Pakistan is liable to be registered as warranted under section 14 of the Sales Tax Act, 1990.

    The data further shows that you have not obtained Sales Tax Registration.

    The FBR in its strive to broaden the tax base, intends to register all those persons who are liable to be registered under Sales Tax Act, 1990 or Federal Excise Act, 2005, or the persons earning taxable income and liable to file return under Income Tax Ordinance, 2001 but who have failed to do so.

    In order to facilitate the taxpayers in declaring their undeclared income, sales, assets, etc. A scheme has been introduced by Govt of Pakistan /Federal Board of Revenue which provides for declaration of such income, sales, assets, etc by 30th June, 2019 at a very concessionary rate.

    “You may avail the benefit of this last opportunity to declare income, sales, assets etc at nominal rates and get registered / file return, if you have not done so,” according to a notice.

    After 30th June, 2019 all those persons who are liable to be registered and pay sales tax/ federal excise duty, or liable to file income tax return, if fail to do so, may compulsorily be registered made to file return and duties and taxes would be recovered along with default surcharge and penalty which may also entail prosecution proceedings leading to imprisonment.

  • Law proposed to end corruption in Pakistan Customs

    Law proposed to end corruption in Pakistan Customs

    KARACHI: The government has decided to take stern action against officials of Pakistan Customs, who are involved in corruption or corrupt practices.

    A new section 156A to the Customs Act, 1969 has been proposed through Finance Bill, 2019 to initiate criminal proceedings against officials involved in accepting bribe or corruption.

    According to EY Ford Rhodes Chartered Accountants Firm said that the Finance Bill 2019 seeks to insert a new Section 156A in the Act whereby the FBR may prescribe rules to initiate criminal proceedings against its officials who willfully and deliberately commits or omits an act which results in personal benefit or undue advantage to the officials or the taxpayer or both.

  • FBR asks jewelers to avail amnesty for undeclared assets

    FBR asks jewelers to avail amnesty for undeclared assets

    KARACHI: Federal Board of Revenue (FBR) has asked jewelers to declare their concealed assets by June 30 otherwise possessing black money or undocumented money will face harsh action.
    The members of gems and jewelers association met senior tax officials at Regional Tax Office (RTO) – II Karachi on Tuesday related to ongoing tax amnesty scheme, sources told PkRevenue.com.
    The tax officials apprised the businessmen to avail the scheme and declare their cash, assets and sales through the asset declaration scheme.
    The members of gems and jewelers have been informed that the FBR had sufficient information about the undocumented gold availability in the market.
    FBR sources said that the authorities had complied data of imported gold and subsequent export of jewelry.
    The sources said that the import of gold was regulated through import policy order 2016 and exporters of jewelry had been allowed the import as per requirements.
    However, it has been observed that this facility was grossly misused and large quantity of gold was being exported / smuggled to India, the sources added.
    The FBR is set to launch mega crackdown against jewelers from next month after the conclusion of the amnesty scheme.

  • Import Policy Order 2016 amended: SRO 604 issued for solar panels, equipments

    Import Policy Order 2016 amended: SRO 604 issued for solar panels, equipments

    ISLAMABAD: The ministry of commerce on Monday amended Import Policy Order, 2016 to describe conditions for import of solar energy panels and related equipments into Pakistan, according to a notification made available to PkRevenue.com.

    The ministry issued SRO 604(I)/2019 to amend the import policy order. The SRO amended the Appendix-B related to procedural requirement of following items with Pakistan Customs Tariff (PCT) code and description of commodity:

    8541.4000: Solar Photovoltaic cells whether or not assembled in modules or made up into panels (Crystalline Type/ Thin Film) Solar PV Test equipment for system performance testing.

    8504.4090: Inverter for use with solar PV system. Common for all PV inverters (off-gird/Hybrid/on-gird.

    9032.8990: Charge Controllers for use solar PV systems Balance of system components for Photovoltaic systems.

    8501.3110: Off-gird/Standalone solar photovoltaic generators consisting of panels of photocells combined with other apparatus / Solar PV Homes System / Solar Kits.

    8501.3210: Off-Grid/ standalone solar photovoltaic generators consisting of panels of photocells combined with other apparatus / Solar PV Homes Systems/ Solar Kits

    8503.0010: Parts suitable for use solely or principally with the machines of heading 8501.3110 and 8501.3210

    8503.0020: Parts suitable for use solely or principally with the machines of heading 8501.3110 and 8501.3210

    8503.0090: Pats suitable for use solely or principally with the machines of heading 8501.3110 and 8501.3210 – others.

    8538.9090: Junction Box with covers for solar panels.

    8544.6090: Insulated (including enameled or anodized electric wire, cables (including con-axial cable) and other insulated conductors, whether or not fitted with connectors for use in photovoltaic systems.

    8413.7090: Solar Photovoltaic pumping system for liquids.

    8419.1900: Solar Water Heaters with accessories

    7321.1190: Stoves, ranges, grates, cookers (including those with subsidiary boilers for central heating), barbecues, braziers, rings, plate non-electric domestic appliances and parts thereof running on solar.

    For the import of above solar system equipments the ministry has defined the conditions, included:

    Importable subject to compliance with the quality and safety standards approved by Pakistan Standards and Quality Control Authority (PSQCA) as given in Appendix N:

    i. Provided that the test report shall be issued by accredited laboratory in the country of origin or exporting country for the scope of testing/ calibration, in accordance with the requirements of ISO/IEC 17025, General requirements for the competence of testing and calibration laboratories.

    ii. Provided further that the certificate of conformance (CoC) shall be issued by accredited product certification body in the country of origin of exporting country for the type of certification in accordance with the requirements of ISO/IEC 17065, Conformity assessment – Requirements for bodies certifying products and services.

    iii. Provided also further that the PSI report shall be issued by accredited inspection body in the country of origin or exporting country for the type of inspections, in accordance with the requirements of ISO/IEC 17020, General criteria for the operation of various types of bodies performing inspection.

    iv. Provided further that the accreditation of the above mentioned conformity assessment bodies shall be issued by the Accredited Body (AB), operating in accordance with ISO/IEC 17011, General requirements for accreditation bodies accrediting conformity assessment bodies.

    The SRO also amended Appendix H related to the list of pre-shipment inspection companies. According to the amendment:

    g. The pre-shipment inspection companies as approved by Pakistan National Accreditation Council (PNAC) for the inspection of solar equipment (including but not limited to solar PV system, off-girds/standalone solar PV systems, solar PV kits, solar PV panels, solar PV cells, inverters, charge controllers, balance of system components for PV systems, low-voltage switchgear and control gear assemblies, power converters for use in PV power systems, insulated cables for use in PV systems, solar pumping systems for liquids, solar water heaters with accessories, solar stoves/ cookers/ ranges, etc. and parts thereof.

    The SRO also amended the Appendix N related to list of compulsory items to meet Pakistan Standards at import stage.

    Following items have been added to the list with HS code and subject:

    8541.4000:

    Solar PV Module IEC: 61730-1

    Solar PV Module – Crystalline Type IEC: 61730-2, IEC:61215-1

    Solar PV Module – Thin Film (CdTe Based) IEC: 61215

    Solar PV Module – Thin Film (amorphous silicon based), IEC: 61730-1, IEC: 61730-2

    Solar PV Module – Thin Film (In, GA based) IEC: 61730-1, IEC: 61730-2

    PV Test Equipment for system performance testing

    Photovoltaic Concentrator (CPV)

    Solar PV standalone systems (including AC or DC off-grid systems)

    8504.4090:

    Inverter for use with solar PV system. Common for all PV inverters (off-grid/hybrid/on-gird)

    Inverters for use with solar PV on-grid system only

    Inverter testing equipment

    Charge controllers for use with solar PV system

    Balance of system components for photovoltaic systems

    Low voltage switchgear and control gear assemblies

    Power converters for use in photovoltaic power assemblies

    Power converters for use in photovoltaic power system

    8501.3110/8501.3210:

    Off-grid/standalone solar PV Home Systems/ Solar Kits

    8503.0010/8503.0020/8503.0090:

    Electronic equipment and parts suitable for use in solar PV power installations

    8538.9090: Junction Box with covers for solar panels

    8544.6090: Electric cables for photovoltaic systems

    8413.7090: Solar PV Pumping System Design qualification and performance measurements

    8419.1900:

    Solar Water Heaters, Solar heading – Domestic water heating systems

    Solar water heater for dwellings based on JIS 4111

    Solar Storage tank based on JIS 4113

    Solar water heaters – elastomeric materials for absorbers, connecting pipes and fittings

    Thermal performance of glazed liquid heating collectors including pressure drop.

    Thermal solar system and components: factor made systems.

    Thermal solar system and components: collectors.

    Solar energy – Water heating systems

    7321.1190:

    Solar cooker – Box Type: requirements

    Solar cooker – Box Type: components

  • Last date for asset declaration scheme not to be extended: Member IR

    Last date for asset declaration scheme not to be extended: Member IR

    KARACHI: Ms. Seema Shakil, Member Inland Revenue (Operations), Federal Board of Revenue (FBR) on Monday said that date for asset declaration scheme will not be extended due to obligations under IMF loan program.

    “The last date for availing asset declaration scheme is June 30, 2019. There will be no further extension in the last date as the IMF loan program will commence from July 01,” the member said at an even organized by Karachi Tax Bar Association (KTBA).

    She said that present scheme was bargained with the IMF in order to provide people declare their undisclosed cash, assets and supplies before the tax machinery launch massive crackdown.

    Ms. Seema Shakil said that the asset declaration scheme had been launched within short span of 8 to nine months considering bulk of information of Pakistanis having offshore investments received. Besides, information under OECD treaty has also been received to the authorities.

    Further, the FBR notified rules for Benami laws in February 2019 empowering authorities to take action against people having assets in some other names.

    It was demand from the stakeholders to allow such scheme before any harsh action. She said that it was unfair to take action without giving opportunity.

    On the occasion, Zeeshan Merchant, former vice president, KTBA highlighted the major points of the asset declaration scheme.

    He said that the scheme was expiring on June 30, 2019 and people were still trying to understand it.

    He urged the tax authorities to extend the last date for availing the scheme as much of the time had lapsed due to Eid holidays.

    Abdul Qadir Memon, President, Pakistan Tax Bar Association, Rehan Siddiqui, President, KTBA and other senior official of FBR were also present on the occasion.

  • Powers to form Customs tribunal shifted to Prime Minister

    Powers to form Customs tribunal shifted to Prime Minister

    KARACHI: The Finance Bill 2019 has proposed to shift the powers to form Customs Appellate Tribunal from the federal government to the Prime Minister.

    According to interpretation by EY Ford Rhodes Chartered Accountants Firm, the Finance Bill 2019 sees to substitute Section 194 of Customs Act, 1969, which empowers the federal government to form, regulate and conduct the affairs of the Appellate Tribunal.

    “The Bill seeks to shift these powers to the Prime Minister,” it added.

    The Appellate Tribunal shall consist of a Chairman, judicial and accountant members.

    The terms and conditions of appointment of the chairman and judicial and technical members (this may be referred to accountant members) are proposed to be determined by the Prime Minister.

    Further, the appointment of a technical member shall be for a period of two years. The Bill seeks to explain the criteria for appointment of judicial members and accountant members as under:

    A judicial member of the Appellate Tribunal shall be appointed, unless such person:

    (a) has been a judge of a High Court;

    (b) has exercised the powers of a District Judge and is qualified to be a judge of the High Court; or

    (c) is or has been an advocate of a High Court and is qualified to be appointed as a judge of a High Court:

    Further, the person who is or has been an advocate of High Court shall not be appointed as judicial member unless selected in accordance with the Civil Servants Act, 1973 (LXXI of 1973) and the Federal Public Service Commission Ordinance, 1977 (XLV of 1977).

    An accountant member of the Appellate Tribunal shall be appointed, unless such person:

    (a) is an officer of Pakistan Customs Service equivalent in rank to the Member of FBR or Chief Collector of Customs or Director General; or

    (b) is a Collector or Director or Chief of the FBR having at least three years’ experience in that position.

  • Adjudicating monetary limits of principal appraisers, superintendents enhanced

    Adjudicating monetary limits of principal appraisers, superintendents enhanced

    KARACHI: The government has enhanced monetary threshold of principal appraisers and superintendents for adjudication with condition of reducing time limit to 90 days for deciding cases.

    Through Finance Bill 2019, it has been proposed to redefine the monetary threshold of the officers of customs for adjudication. The bill also proposed to abolish the power of assistance collector in adjudicating matters.

    According to budget commentary of EY Ford Rhodes, the following powers of adjudication have been proposed as compared with existing powers:

    Power of adjudication

    Under Section 179 of Customs Act, 1969

    (i) Collector: No limit – No change in present power

    (ii) Additional Collector: Not exceeding three million rupees – No change in present power

    (iii) Deputy Collector: Not exceeding one million rupees – No change in existing power

    (iv) Assistant Collector: Not exceeding five hundred thousand rupees: the power of assistance collector proposed to be deleted

    (v) Superintendent: Not exceeding fifty thousand rupees: proposed that it should not exceeding one hundred thousand rupees

    (vi) Principal Appraiser: Not exceeding fifty thousand rupees: it is proposed it should not exceeding one hundred thousand rupees.

    The Finance Bill further seeks to reduce the time period to decide the cases within ninety days instead of existing one hundred and twenty days.