Tag: Sales Tax Act 1990

In a bid to streamline tax compliance and enhance transparency, the Federal Board of Revenue (FBR) has re-emphasized the statutory requirement for taxpayers to retain records for a period of six years.

Section 23 of Sales Tax Act, 1990 has defined issuing tax invoice must for supplier. 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 23 of Sales Tax Act, 1990: 23. Tax […]

Section 22 of Sales Tax Act, 1990 has defined record keeping under the 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 complete sections of the Sales Tax Act, 1990 updated up to June 30, 2001 after incorporating changes brought through Finance Act, 2001. Section 2: Definitions of Sales Tax Act, 1990 Section 3: Chargeability of sales tax at 17% on supply of goods Section 3B: Overcharging of tax to be deposited in national […]

Section 21A of the Sales Tax Act, 1990 grants the Federal Board of Revenue (FBR) the authority to compile and maintain an Active Taxpayers List (ATL).

Section 21 of Sales Tax Act, 1990 has explained de-registration, blacklisting and suspension of registration. 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 21 of Sales Tax Act, 1990: 21. De-registration, blacklisting and suspension of registration.– (1) The Board […]

Section 14 of Sales Tax Act, 1990 has explained sales tax registration for making supplies. 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 14 of Sales Tax Act, 1990: 14. Registration.— (1) Every person engaged in making taxable supplies […]

Section 13 of Sales Tax Act, 1990 has explained exemption of sales tax. 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 13 of Sales Tax Act, 1990: 13. Exemption.– (1) Notwithstanding the provisions of section 3, supply of goods […]

The Federal Board of Revenue (FBR) has delineated the powers of tax authorities to revise or modify orders under Section 11C of the Sales Tax Act, 1990, as updated up to June 30, 2021, incorporating changes introduced through the Finance Act, 2021. This section empowers tax officials to adjust assessments in light of legal decisions […]

Section 11B of Sales Tax Act, 1990 has explained assessment giving effect to an order. 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 11B of Sales Tax Act, 1990: 11B. Assessment giving effect to an order.– (1) Except where […]