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Tax on supplies - Printable Version

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Tax on supplies - Information Consultant - 12-15-2011 03:37 AM

A private limited company can adjust tax on supplies or it is a final tax ?


- student_of_law - 12-15-2011 03:05 PM

According to section 153(3), Tax deducted under section 153(1)(a) [on supplies], shall only be adjustable if the recipient is (i)a company AND 9(ii) that such company is either manufacturer of such goods or a listed company

So where company is a manufacturer, tax deducted on supplies is NOT final tax.
Where a company is a listed company, tax deducted on supplies is NOT final tax
Where company is trader, tax deducted on supplies is final tax.


RE: Tax on supplies - Julia Roberts - 06-12-2014 12:45 AM

According to section 153(3), Tax deducted under section 153(1)(a) [on supplies], shall only be adjustable if the recipient is (i)a company AND 9(ii) that such company is either manufacturer of such goods or a listed company

So where company is a manufacturer, tax deducted on supplies is NOT final tax.
Where a company is a listed company, tax deducted on supplies is NOT final tax
Where company is trader, tax deducted on supplies is final tax.

I agree with this reply , it is a satisfied one.