Oct 22

Banking fraud: Rs7.6 million withdrawn on un-signed cheque

ISLAMABAD: A bank account holder is fortunate to get back an amount of Rs7.6 million on the intervention of Banking Mohtasib (Ombudsman) Pakistan. The amount was fraudulently withdrawn from the account on a foraged cheque and the branch manager was found involved in the fraud. A case related to cash withdrawn on forged cheque is […]

by Mrs. Anjum Shahnawaz

No refund, input adjustment to be entertained on invoice issued prior or after of blacklisting

KARACHI: Federal Board of Revenue (FBR) said invoices issued by a person prior or after blacklisting for sales tax will not be entertained for refunds or input adjustment. The FBR issued Sales Tax Act, 1990 updated till June 30, 2019 incorporating amendments brought through Finance Act, 2019. Section 21 of the Act explained blacklisting and […]

by Mrs. Anjum Shahnawaz

Persons committing fiscal fraud liable to 10 years jail under Customs laws

KARACHI: A person is liable to jail punishment up to 10 years in case of committing fiscal fraud under Customs Act, 1969. The Federal Board of Revenue (FBR) recently updated Customs Act, 1969 under which if a person commits and offence of fiscal fraud under Section 32A of the Act then such person is liable […]

by Mrs. Anjum Shahnawaz