Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Federal Excise Duty in Sales Tax Mode
06-10-2010, 05:18 PM,
#1
Federal Excise Duty in Sales Tax Mode
Could Anyone Help me in explaining what does Federal Excise duty in sales Tax Mode actually means and also in explaining the difference between Duty Drawback and Refund Claim. Thanks
Reply
06-15-2010, 02:54 PM,
#2
 
if u do not charge federal excise duty on supply/sales, then u cd adjust ur input federal excise duty with ur output sales tax.

if;
ur input federal excise duty on (sales tax mode)..

see.. sales tax act 1990, chapter1, sub section (21a) of section (2)

and see also chapter 2 , section (7)
....

when u go to refund claim ur duty /tax, then u must have to declare ur duty ''draw back'' in monthly return challan for the same amount.

regards,




Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)

Contact Us | Accountancy | Return to Top | | Lite (Archive) Mode | RSS Syndication