Tag: Sales Tax Act 1990

Section 74A of Sales Tax Act, 1990 has explained validation of all notifications and orders issued. 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 74A of the Sales Tax Act, 1990: 74A. Validation.– (1) All notifications and orders […]

Section 74 of Sales Tax Act, 1990 has described condonation of time limit. 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 74 of the Sales Tax Act, 1990: 74. Condonation […]

The Federal Board of Revenue (FBR) may disallow taxpayers’ transactions under sales tax laws if those are made through cash above Rs50,000. 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 73 of the Sales Tax Act, […]

The Federal Board of Revenue (FBR) has prescribed procedure for grant of reward to Inland Revenue officials and whistleblowers for detection of tax evasion. 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 72C and 72D […]

The Federal Board of Revenue has been empowered to select taxpayers for audit through computerized balloting under Section 72B of Sales Tax Act. 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 72B of the Sales Tax […]

ISLAMABAD – In a significant move to streamline the references to authorities within the Sales Tax Act, 1990, Section 72A has been introduced through the Finance Act, 2021.

In a bid to ensure effective implementation and enforcement of tax-related regulations, Section 72 of the Sales Tax Act, 1990, mandates that officers of Inland Revenue and other individuals engaged in the execution of the Act must adhere to the orders, instructions, and directions issued by the Federal Board of Revenue (FBR).

In a move to enhance flexibility and adaptability within the tax framework, Section 71 of the Sales Tax Act, 1990, grants authority to the Federal Board of Revenue (FBR) to prescribe special procedures for the payment and submission of documents.

ISLAMABAD – A recent amendment to the Sales Tax Act, 1990, introduced through the Finance Act, 2021, sheds light on the computation of the limitation period for appeals or applications.