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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 »

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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