06-10-2011, 11:51 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bashi</i>
<br />[quote]<i>Originally posted by LapTop</i>
<br />SPECIAL PROCEDURE FOR PAYMENT OF EXTRA SALES TAX ON SPECIFIED ELECTRIC HOME APPLIANCES
58S. Application.--The provisions of this Chapter shall apply to the supplies of electric home appliances namely, television sets, refrigerators, freezers, air conditioners, electric ovens, microwave ovens, washing machines, spin dryers, and DVD/CD players of all types, hereinafter referred to as specified electric goods in this Chapter.
58T. Mode, manner and rate applicable for payment of extra amount of tax.
-- (1) Extra amount of sales tax at the rate of 0.75% of value of supplies shall be levied and collected on the supplies of all specified electric goods by manufacturers and importers in addition to the tax payable under sub-sections (1) and (2) of section 3 of the Act, as the case may be.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
How can we show the Sales? Exempt means Only the value excluding Sales Tax or we have to add FED/SED with this value?
For Example
Value Exl ST---- ST(17%)---Extra Tax(0.75%)-- SED(2.5%)-- FED (10%)
119,296 ----------20,280-----894--------------2,982--------11,930
Total 155,382
Now i Want to Sale this item what i will do? which value i will show in my output invoice. I know after paying extra tax it will be exempt.
As 58T(5) of SRO 525(I)/2008 dated 11-06-2008
"The Specified electric goods on which extra sales tax has been paid in the aforesaid manner shall be exempt from payment of sales tax on subsequent supplies including those as made by retailer"
<br />[quote]<i>Originally posted by LapTop</i>
<br />SPECIAL PROCEDURE FOR PAYMENT OF EXTRA SALES TAX ON SPECIFIED ELECTRIC HOME APPLIANCES
58S. Application.--The provisions of this Chapter shall apply to the supplies of electric home appliances namely, television sets, refrigerators, freezers, air conditioners, electric ovens, microwave ovens, washing machines, spin dryers, and DVD/CD players of all types, hereinafter referred to as specified electric goods in this Chapter.
58T. Mode, manner and rate applicable for payment of extra amount of tax.
-- (1) Extra amount of sales tax at the rate of 0.75% of value of supplies shall be levied and collected on the supplies of all specified electric goods by manufacturers and importers in addition to the tax payable under sub-sections (1) and (2) of section 3 of the Act, as the case may be.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
How can we show the Sales? Exempt means Only the value excluding Sales Tax or we have to add FED/SED with this value?
For Example
Value Exl ST---- ST(17%)---Extra Tax(0.75%)-- SED(2.5%)-- FED (10%)
119,296 ----------20,280-----894--------------2,982--------11,930
Total 155,382
Now i Want to Sale this item what i will do? which value i will show in my output invoice. I know after paying extra tax it will be exempt.
As 58T(5) of SRO 525(I)/2008 dated 11-06-2008
"The Specified electric goods on which extra sales tax has been paid in the aforesaid manner shall be exempt from payment of sales tax on subsequent supplies including those as made by retailer"
