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Time for depositing sales tax by ginning industry extended

ISLAMABAD (February 18 2003) : The Central Board of Revenue (CBR) has extended the time period for depositing sales tax by the ginning industry, says a directive issued here on Monday.

The decision has been taken in view of the Eid holidays (February 11-13), which caused procedural delay in payment of sales tax under Special Procedure for Ginning Industry Rules, 1996.

According to the order, the authorities have extended the time period for deposit of sales tax on cotton for the tax period January 2003 from 10th to 15th February and from 15th to 19th February for ginners.

The sales tax order issued to All Pakistan Textile Mills Association (Aptma) reads as: Keeping in view the Eid holidays on 11th to 13th February, 2003, the Central Board of Revenue (CBR) in exercise of powers conferred under section 74 of the Sales Tax Act, 1990, is pleased to extend the time period, as laid down in rule 6 of special procedure for ginning rules 1996, for deposit of sales tax on cotton under the said rules, for the tax period January 2003 from 10th to 15th February 2003 and from 15th to 19th February, 2003 for ginners.

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