I am working in a manfacturing concern and some service provider companies and banks are deducting/ collecting FED on invoices and various local and import transactions
Can we claim as input tax of FED of the following in our sales tax return?
Adamjee Insurance
TPL Direct Insurance Company
TPL Trakker (Pvt.) Ltd.
Banks
Security Services Company
At the time of import
Pakistan International Container Terminal Ltd.
Port charges
Shipping Companies
Excise & Taxation Sea dues
As per section # 6 & 7 of the Federal Excise Act, 2005
sec. 7 clearly mentions that this adj. would b made
as per provisions of the sales tax act, 1990
I have read above sections, but there is still ambiguit and no any explaination that i can calim/adjust or not FED on above services in our sales tax return. Because you already know that FED on mobile bills is disallowed by Govt.
Maybe after adjustment of above FED it will be disallow at the time of sales tax audit.
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FED Federal Excise Duty and SEDSpecial Excise Duty.
First of all what are they used for?
Secondly, what is the difference between FED & SED. They say these are same but in the tax return form I saw seperate colomn of both. This is confusion. Can you please clarify it.
FED Federal Excise Duty and SEDSpecial Excise Duty.
First of all what are they used for?
Secondly, what is the difference between FED & SED. They say these are same but in the tax return form I saw seperate colomn of both. This is confusion. Can you please clarify it.
Payment say related sec 73 hay or is may aisi koi bat nahi hay is kay ilawa bhi yay bat clear nahi hay kay kay holiday walay din payment kaisay hogi isko clear karo