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Commercial Importer Rule 58 c
09-14-2011, 12:03 AM,
#1
Commercial Importer Rule 58 c
Dear Forum Member
Pls confirm that Stgo 3/2007 rule 58 c of Sales tax special procedures 2007 chapter x is still applicable or not . If no then pls provide any reference .
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09-16-2011, 05:38 PM,
#2
 
Dear Information Consultant,
The said STGO 3/2007, chapter-X rules 58 A B C D E, all relating to importers / commercial importers were amended vide SRO525(I)2008 dd. 11-june-2008. If I am correct, then please donot forget to thank me. Regards, lahore766 at gmail dot com
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09-16-2011, 05:52 PM,
#3
 
And this SRO525 of 2008 again amended by SRO862 of 2008... Means that Rule 58C substituted by Notification No. S.R.O. 862(1)/2008, dated 20th August, 2008, (w.e.f. 1st day of July, 2008) - - - - - - Now It reads as follows

[58C. Tax not to be refunded.-- (1) In no case, the refund of excess input tax over output tax, which is attributable to tax paid at import stage, shall be refunded to a registered person.
(2) The registered person, if also dealing in goods other than imported goods, shall be entitled to file refund claim of excess carried forward input tax for a period as provided in section 10 or in a notification issued thereunder by the Board after deducting the amount attributable to the tax paid at import stage i.e. sum of amounts paid during the claim period and brought forward to claim period. Such deducted amount may be carried forward to subsequent tax period.]

** and donot forget to thank me ** -) [8D]
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