Sales Tax Instructions

Sales Tax Instructions, 2009
iii)
It is simply a personal computer (PC) based programme and the refund
can be claimed on ordinary PC. Therefore, there shall be no such
position/situation as conceived by the Pakistan Business Forum.
[Issued by the CBR, Islamabad under the signature of Mr. Manzoor Hussain Memon,
Secretary (ST-L&P), addressed to Mian Tanveer Ahmed Magoon, Central Chairman, The
Pakistan Business Forum, Karachi.]
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SALES TAX RULING/INSTRUCTION No.62/2002
C. No.3(36)STP/99(Pt-I) DATED 17 TH SEPTEMBER, 2002
SUBJECT:-
PAYMENT AGAINST A SUPPLY PARTLY IN CASH AND
PARTLY IN KIND.
I am directed to refer to the subject noted above and to say that M/s Toyata
Rawal Motors have raised a question to the Board that whether payment against any
supply can be made partly in cash and partly in kind.
2. The matter has been examined in the Board. The value of supplies can
either be in cash or partly in cash and partly in kind as per the provisions of proviso (i) to
clause (a) to sub-section (46) of section 2 of Sales Tax Act, 1990. Similarly, as per the
provision of section 73 of the Act, if a transaction exceeds Rs. 50,000/-, the payment is to
be made through crossed cheque drawn on bank or by a crossed bank draft or pay order
or any other banking instrument showing transfer of the payment from the business
account of the buyer to the business account of the seller.
3. In view of the mentioned provisions of Sales Tax Act, 1990, it is ruled that
the payment can be received in kind provided;
i) Receipt in kind represent taxable goods under the Act.
ii) goods received in kind as consideration are adequately reflected in the
books of accounts with reference to sales tax invoice number and date;
and
iii) the balance/remaining amount even of less than Rs. 50,000/- is
transferred from the business account of the buyer to the business
account of seller through banking instrument, as mentioned in section 73
of the Act.
[Issued by the CBR, Islamabad under the signature of Mr. Manzoor Hussain Memon,
Secretary (ST-L&P) addressed to all the Collectors.]
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C.NO. 1/51-STB/2002 DATED 23 RD SEPTEMBER, 2002