Sales Tax Act 1990 Archives - Page 22 of 32

Applicable tax rates to be charged under sales tax law

October 30, 2021October 30, 2021Hamza Shahnawaz

Section 5 of Sales Tax Act, 1990 has defined applicable tax rates to be charged under sales tax law. 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. 5. Change in the rate of tax.– If there is a change in the rate […]

Zero rated tax under sales tax law

October 30, 2021January 12, 2024Hamza Shahnawaz

The Federal Board of Revenue (FBR) has clarified and defined the scope of zero rated tax under the Sales Tax Act, 1990, through Section 4 of the Act.

Overcharging of tax to be deposited in national kitty

October 30, 2021January 30, 2026Hamza Shahnawaz

Section 3B of Sales Tax Act, 1990 has defined overcharging of tax to be deposited in national kitty.

Chargeability of sales tax at 17% on supply of goods

October 30, 2021October 30, 2021Hamza Shahnawaz

Section 3 of Sales Tax Act, 1990 has defined chargeability of sales tax at 17% on supply of goods. 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. 3. Scope of tax.– (1) Subject to the provisions of this Act, there shall be […]

Definitions of Sales Tax Act, 1990

October 29, 2021October 30, 2021Mrs. Anjum Shahnawaz

Section 2 of Sales Tax Act, 1990 has defined various provisions of the act to better understand the law. 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. 2. Definitions.― In this Act, unless there is anything repugnant in the subject or context,– […]

Trade discount should be displayed on invoice: FBR

October 14, 2021October 14, 2021Mrs. Anjum Shahnawaz

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday said that trade discount if any to be given by a retailer has to be depicted on the invoice horizontally i.e. from left to right The FBR on August 9, 2021 issued SRO 1006(I)/2021 and specified standardized format for sales tax invoice detailing minimum requirement for […]

Penalty up to Rs3 million for failure to integrate business

September 20, 2021September 20, 2021Faisal Shahnawaz

ISLAMABAD: The Federal Board of Revenue (FBR) may impose up to Rs3 million as a monetary penalty upon persons for failure to integrate their businesses with the online system under Sales Tax Act, 1990. An important amendment has been made through Tax Laws (Third Amendment) Ordinance, 2021, which was promulgated on September 15, 2021 through […]

FBR to stop gas, electricity of unregistered persons

September 20, 2021January 7, 2024Faisal Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) has been empowered to discontinue gas and electricity connections of any person who is making taxable supplies but not registered for sales tax.

Operator of online market place to withhold sales tax

September 20, 2021September 20, 2021Faisal Shahnawaz

ISLAMABAD: The operator of the online market place has been made liable to withholding sales tax on sales of goods. An important amendment has been made through Tax Laws (Third Amendment) Ordinance, 2001, which was promulgated on September 15, 2021 through a presidential order. A new proviso has been inserted to Section 3 of the […]

FBR explains taxation of erstwhile FATA/PATA industries

August 10, 2021August 10, 2021Mrs. Anjum Shahnawaz

ISLAMABAD: The Federal Board of Revenue (FBR) has explained tax treatment of erstwhile FATA/PATA domiciled industries after amendment brought through Finance Act, 2021. The FBR in a circular No. 03 issued on Tuesday said a number of significant amendments have been introduced through Finance Act, 2021 in the Sales Tax Act, 1990 as applicable to […]

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