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167th update dated July 15, 2016
This update covers:-
-Finance Act, 2016;
-Sindh S. Tax: SRB-3-4/11/2016 & SRB-3-4/12/2016;
-Punjab Finance Act, 2016;
-KPK Finance Act, 2016;
-SROs: 487(I)/2016 to 493(I)/2016, 495(I)/2016 & 496(I)/2016; and
-General Orders: 68 to 76 of 2016.
-Circular: C.No.9(11)ST-LP&E/Misc./2016/93088-R
These are briefly explained as under:–
Part I –Sales Tax Act
1.      Amendments have been made in the following provisions by the Finance Act, 2016 dated June 24, 2016:-
Sections:
2(5AB), (9) &(14); 6(2); 7(2), 8(1); 11(4A); 13(2); 26(2); 33DDD; 33(1); 47A(2), (4); 49(2); 56B.
Schedules:
      3rd Schedule, S.No. 37;
      5th Schedule, S.No. 12;
      6th Schedule, Table 1: (S.No. 100A, 100B, 103, 105, 110, 111, 119, 123, 130 to 133); Table 3 (Annexure);
      8th Schedule: Table 1 (S.No. 15, 20, 25, 26, 31, 32 to 34); Table 2 (Annexure); and
      9th Schedule.
Part II – Provincial Sales Tax
2.      On pages 91 onwards, Sindh Sales Tax on Services Rules, 2011 has been amended by No. SRB-3-4/12/2016 dated June 28, 2016.
3.      On pages 129 onwards, Sindh Sales Tax (Withholding) Rules, 2014 has been amended by No. SRB-3-4/11/2016 dated June 28, 2016.
4.      On pages 155 onwards, Punjab Sales Tax on Services Act, 2012 has been amended by Punjab Finance Act, 2016 dated June 29, 2016.
5.      On pages 319 onwards, KPK Sales Tax on Services Act, 2013 has been amended by KPK Finance Act, 2016 dated June __, 2016.
Part III – Notifications
6.      On page 7, SRO 563(I)/2006 dated June 05, 2006 has been superseded by SRO 492(I)/2016 dated June 30, 2016. This is re: Fixation of value for domestically produced and import of white crystalline sugar at Rs.56 per kg & USD$725 per MT.
7.      On page 8, SRO 212(I)/2014 dated March 26, 2014 has been rescinded by SRO 489(I)/2016 dated June 30, 2016. This is re: Input tax adjustment not to be allowed against provincial laws.
8.      On page 12, SRO 648(I)/2013 dated July 09, 2013 has been amended by SRO 487(I)/2016 dated June 30, 2016. This is re: Further tax @ 1% sales tax shall not be charged, levied or paid on the taxable supplies.
9.      On page 13, SRO 57(I)/2016 dated January 29, 2015 has been amended by SRO 490(I)/2016 dated June 30, 2016. This is re: Sales Tax on import and supply of petroleum goods.
10.     On page 14, SRO 495(I)/2016 dated July 04, 2016 has been reproduced. This is re: Sales Tax on Services in Islamabad Capital Territory.
11.     On pages 19 onwards, SRO 1125(I)/2011 dated December 31, 2011 has been amended by SRO 491(I)/2016 dated June 30, 2016. This is re: Zero-rating for import and supply of various products.
12.     On page 20M, SRO 496(I)/2016 dated July 14, 2016 has been reproduced. This is re: Zero rating of import of 111 Buses by M/s. Foton Bus Company (Pvt) Limited.
Part IV – Exemptions
13.     On page 18, SRO 115(I)/2008 dated February 06, 2008 has been rescinded by SRO 489(I)/2016 dated June 30, 2016. This is re: Materials and Equipment for Gawadar Port.
Part V – Sales Tax Rules, 2006
14.     On page 20, Rule 18 has been amended by SRO 493(I)/2016 dated July 01, 2016. This is re: Electronic filing of Sales Tax Return.
Part VA– Sales Tax Special Procedure Rules, 2007
15.     On page 10A rule 5 has been amended by SRO 488(I)/2016 dated June 30, 2016 to provide that tax @ 2% on turnover will be payable by retailers subject to the provisos inserted.
Part VI – General Orders
16.     On pages 312 onwards, General Order Nos. 68 to 76 of 2016 dated June 20 22, 28 & 15 July, 2016, have been reproduced. These are re: Supply of Electricity & Gas.
Part VII – Circulars
17.     On page 72, C.No. 9(11)ST-LP&E/Misc./2016/93088-R dated July 15, 2016, has been reproduced. This is re: Extension in the date for submission of Sales Tax / Federal Excise return for the period June, 2016.
Part IX – Budget Instructions
18.     On page 27, Finance Act 2016, relevant extract, has been reproduced.
Part X – Federal Excise Act, 2005
19.     On pages 4 onwards, Federal Excise Act, 2005 has been amended by Finance Act 2016 dated June 24, 2016.