Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Whether exclude from Section 8B(1), under SRO 647(
10-13-2011, 03:12 PM
Post: #1
Whether exclude from Section 8B(1), under SRO 647(
Salam to All,
i have question is it is necessary for registered manufacturer to check the no Box for taking the 90% of Output Tax and Submit the 10 %, can Registered Manufacturer choose the Yes Option and Carry forward the unadjusted sales tax credit to the next month.


According to my point of View its depend on the Reg Manufacturer wither he select the yes/not option

W8ting for Kind Response.
Visit this user's website Find all posts by this user
Quote this message in a reply
10-15-2011, 09:18 PM
Post: #2
 
S.R.O. 647(I)/2007.— In exercise of the powers conferred by the second proviso to sub-section (1) of section 8B of the Sales Tax Act, 1990, the Central Board of Revenue is pleased to direct that the registered persons specified in column (2) of Table below shall be excluded from the purview of the said sub-section–
1. Persons registered in electrical energy sector.
2. Oil marketing companies and petroleum refineries.
3. Fertilizers manufacturers.
4. Manufacturers consuming raw materials chargeable to sales tax at the rate of 18.5% or 21% provided value of such raw materials exceeds 50% of value of all taxable purchases in a tax period.
5. Wholesalers-cum-retailers operating in Chapter XII of the Sales Tax Special Procedures Rules, 2007.
6. Commercial importers provided the value of imports subjected to 2% value addition tax under Chapter X of the Sales Tax Special Procedures Rules, 2007, exceeds 50% of value of all taxable purchases in a tax period.
7. Person making zero-rated supplies provided value of such supplies exceeds 50% of value of all taxable supplies in a tax period.”(sro.529-2008 )
8. Distributors and wholesalers.
9. Gas distribution companies.
10. Solvent extracting units of edible oils.”( sro.713-2008)
“11. Telecommunication Services”. (sro.1234-2008)
“12. Pakistan Steel ,Bin Qasim, Karachi. (sro.36-2009)
Visit this user's website Find all posts by this user
Quote this message in a reply
10-19-2011, 08:02 PM
Post: #3
 
its Mean Reg manufacturer may or may not take 90% of Output Tax this option is only for Reg manufacturer

Thakns
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Forum Jump:


User(s) browsing this thread: 1 Guest(s)