Sales Tax Act 1990 Archives - Page 31 of 32

Sales Tax Act 1990: refund of input tax payable in 45 days

April 10, 2019April 13, 2026Mrs. Anjum Shahnawaz

KARACHI: Federal Board of Revenue (FBR) is required to pay sales tax refunds to the taxpayers in 45 days from the date of filing claim.

Sales Tax Act 1990: buyer, seller jointly responsible for unpaid tax

April 8, 2019April 14, 2021Faisal Shahnawaz

KARACHI: Where an amount of tax unpaid in supply chain then registered buyer and seller are both responsible for paying to national exchequer. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 8A explained joint and several liability regarding unpaid tax. Section 8A: Joint and several liability of […]

Sales Tax Act 1990: tax credit not allowed under various conditions

April 7, 2019February 16, 2021Mrs. Anjum Shahnawaz

KARACHI: A registered sales tax person is not allowed to entitle to reclaim or deduct input tax paid on various activities of manufacturing / supplies. The Section 8 of updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR) explained where tax credit is not allowed. Section 8: Tax credit not allowed Sub-Section […]

Sales Tax Act 1990: deduction of input tax by registered persons

April 6, 2019April 18, 2021Faisal Shahnawaz

KARACHI: A sales tax registered person is allowed to deduct input tax against output tax for determination of taxable supplies made during a period. According to updated Sales Tax Act 1990 issued by Federal Board of Revenue (FBR), Section 7 explained the procedure of deduction of input tax by sales tax registered persons. Section 7: […]

Sales Tax Act 1990: rate in force to apply at time of supply

April 5, 2019December 1, 2024Faisal Shahnawaz

KARACHI: Any change in the rate of sales tax shall apply at the time of supply or clearance of imported goods, as clarified by Section 5 of the Sales Tax Act, 1990, updated by the Federal Board of Revenue (FBR). This section outlines the specific rules for applying sales tax when rates are adjusted and […]

Sales Tax Act 1990: zero rating on export, supply of goods

April 4, 2019April 18, 2021Faisal Shahnawaz

KARACHI: The sales tax laws have allowed zero rating of sales tax on exports or supply of goods. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 4 of the Act explained the zero rating. Section 4: Zero rating Notwithstanding the provisions of section 3 except those of […]

Sales Tax Act, 1990: collection of excess sales tax

April 2, 2019April 18, 2021Faisal Shahnawaz

KARACHI: A person is required to pay sales tax, which was collected under misapprehension of any provision of the act and was not collectable or in excess of tax. The FBR recently updated Sales Tax Act, 1990 and its Section 3B explained the collection of excess sales tax. Section 3B: Collection of excess sales tax […]

Sales Tax Act 1990: 17 percent applicable on taxable supplies

April 1, 2019February 16, 2021Faisal Shahnawaz

KARACHI: A normal sales tax rate at 17 percent is applicable on taxable supplies made by registered person. Federal Board of Revenue (FBR) issued recently the updated Sales Tax Act, 1990 under which its Section 3 explained the scope of tax. Section 3: Scope of tax Sub-Section (1): Subject to the provisions of this Act, […]