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Budget 2013: SC Judgement dt 21-6-2013 (Levy of Sales Tax from 13 June 2013)

(i) The  Government is not authorized to impose or increase  Sales Tax from 16% to 17%  on the value of taxable  supplies, i.e. by inserting in the  Finance  Bill (Money Bill) 2013-14 a declaration under section 3 of the  Provisional Collection of Taxes  Act, 1931 [hereinafter referred to as ‘the Act, 1931’] as such declaration neither has the status of ... Read More »

Sales Tax & Federal excise duty SROs/Notifications 500-501-502-503-504-505-506 507-508-509-510 of 2013

ST & Fed Ex SRO 500 of 2013 Rescination of various sales tax and federal excise notifications-SROs ST SRO 501 of 2013 To exempt goods that were earlier zero-rated under SRO 549-2008 ST SRO 502 of 2013 Deletion of items from SRO 549-2008, as these items are now exempt under SRO 501-2013 ST & Fed Ex SRO 503 of 2013 ... Read More »

The Finance Act, 2013; Amendments in the First Schedule to the Customs Act, 1969. (Pakistan Customs Tariff) +SROs

Cus SRO 495 of 2013 Amendments in Notification No. S.R.O 655-2006 Cus SRO 496 of 2013 Amendments in Notification No. S.R.O 656-2006 Cus SRO 497 of 2013 Amendments in Notification No. S.R.O. 567-2006 Cus SRO 498 of 2013 Amendments in Notification No. S.R.O. 575-2006 Cus-ST& IT SRO 499 of 2013 Supersation of S.R.O. 607-2012 The Finance Act, 2013 Amendments in ... Read More »

Ishaq Dar to unveil Federal budget in NA Today.

A special budget session of the lower house has been summoned by the president. Finance Minister Ishaq Dar will lay budget proposals for the financial year 2013-14 in the House. These budget proposals will first be presented for approval before the federal cabinet in its special session tomorrow to be chaired by Prime Minister Nawaz Sharif. A number of proposals ... Read More »

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