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SRO 1125(1)2011
01-04-2012, 07:43 PM
Post: #1
SRO 1125(1)2011
Can any one explain following point of SRO 1125

1.Adjustment of input allowed with output
2.Retailer would attract 5 percent sales tax on purchase of these goods with the facility of adjustment & not liable to pay turnover tax under special procedure.

This SRO covers only zero rate regime?
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01-08-2012, 02:26 AM
Post: #2
 
point no 2
Retailer pay turn over tax as per Sales tax special procedure 200. and not allowed input tax adjustment .
After Sro scenerio.
Retailer can claim input tax adjustment against the sale of goods involved in zero rate sector and not liable to pay turnover tax. However if he involved in other goods retail activity same rule apply mentioned above Turn over tax.

This is my understanding pls correct me if i am wrong.
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