In a move aimed at providing convenience to taxpayers, the Federal Board of Revenue (FBR) has announced that individuals can now obtain duplicate documents of their sales tax affairs.
Section 68 of the Sales Tax Act, 1990, delves into the legal framework surrounding the liability of a registered person for the actions undertaken by their appointed agent.
A provision has been added to Section 67A of the Sales Tax Act, 1990, which empowered the Federal Board of Revenue (FBR) to pay sales tax refund through bonds. 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, […]
Federal Board of Revenue (FBR) is liable to pay an additional amount on a sales tax refund that is paid after a specified time under Sales Tax Act, 1990. A procedure for the payment of an additional amount against delayed sales tax refund has been laid down under Section 67 of the Sales Tax Act, […]
Section 66 of Sales Tax Act, 1990 has described refund to be claimed within one year. 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 66 of the Sales Tax Act, 1990: 66. Refund to be claimed within one […]
Section 65 of Sales Tax Act, 1990 has explained exemption of tax not levied or short levied as a result of general practice. 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 65 of the Sales Tax Act, 1990: […]
In a move that could have significant implications for exporters, the Federal Board of Revenue (FBR) is contemplating the prohibition of drawback against goods exported to specified foreign territories.
Section 63 of the Sales Tax Act, 1990, sheds light on the provision of drawback in the form of sales tax repayment for goods that have been utilized between their importation and subsequent re-exportation.
Section 62 of Sales Tax Act, 1990 has described drawback allowable on re-export. 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 62 of the Sales Tax Act, 1990: 62. Drawback allowable on re-export.– When any goods which have […]
In a move aimed at fostering economic development in Azad Jammu and Kashmir (AJK), the Federal Board of Revenue (FBR) has introduced a provision allowing for the repayment of tax to individuals and businesses registered in the region.