Sales Tax Instructions

Sales Tax Instructions, 2009
Letter dated 12 th June, 2006 from the Governor, State Bank of Pakistan refers.
2. To address the concerns of Pakistan Banking Association (PBA)
regarding the excise duty levied on non-fund services of banking companies in the
Budget 2006-07, a meeting was held in CBR with the PBA representatives in which it
was clarified to them that:
(i)
(ii)
(iii)
(iv)
(v)
The banking companies shall be registered in the Large Taxpayer Unit,
Karachi on the basis of a simple application (application forms already
sent to the banks‘ head offices);
On suggestion of the PBA, the condition of issuance of excise invoices
has been done away with vide SRO 647(I)/2006 dated 21 st June, 2006.
Moreover, a quarterly reconciliation statement proposed by PBA has also
been notified;
There shall be no inspections by excise staff and any interaction, if
required, shall be made at the senior level of excise officers;
The record may be maintained only at the head offices of the banks; and
Instead of the regular Federal excise return, a simplified return has been
notified for the banking companies.
3. Thus the concerns of PBA regarding the subject levy have been
addressed and the representatives of PBA have expressed satisfaction with the special
arrangements made in this regard by CBR.
[Issued by the CBR, Islamabad, under the signature of Mr. Shahid Ahmad, Secretary
(ST&FE), addressed the Dr. Shamshad Akhtar, Governor, State Bank of Pakistan, Karachi.
********
C. NO. 3(3)STM/2004 DATED 26 TH JUNE, 2006
SUBJECT:- LAYALLPUR CHEMICALS AND FERTILIZERS LIMITED
(NATIONAL TAX NO.1768968 AND SALES TAX
REGISTRATION NO.04-04-2807-002-91)
Please refer to your letter C. No.DC/Refund/ST/LTU/F219/05/185722 dated 15-
05-2006, on the subject noted above.
2. The case of M/s. Layallpur Chemicals & Fertilizers Ltd. has been
examined in the Board. It is advised that if the amount allowed through an adjustment
advice issued under SRO 666(I)/2005 dated 30-06-2005 is not fully adjusted in three