Preliminary Chapter- 01
The Board has the power to fix the value of any imported goods or taxable supplies. However, if the
import or supply is made at a value higher than the value fixed by the Board then the actual value
shall be considered.- Whistleblower [u/s 2(46A)]
means whistleblower as defined in section 72D of the Sales Tax Act, 1990.- Wholesaler [u/s 2(47)]
'wholesaler' includes a dealer and means any person who carries on, whether regularly or otherwise,
the business of buying and selling goods by wholesale or of supplying or distributing goods, directly
or indirectly, by wholesale for cash or deferred payment or for commission or other valuable
consideration or stores such goods belonging to others as an agent for the purpose of sale; and
includes a person supplying taxable goods to a person who deducts income tax at source under the
Income Tax Ordinance, 2001; and- Zero rated supply [U/s 2(48)]
'zero-rated supply' means a taxable supply which is charged to tax at the rate of zero percent u/s 4.
Difference between ‘Exempt Supply’ and ‘Zero-Rated Supply’
Under Sales tax Act, a person is not required to pay tax on exempted and zero rated supplies,
however both differ with each other on the following points.
S. No. Point of Distinction Exempt Supply Zero-Rated Supply- Taxability Not taxable Taxable
- Registration under Sales Tax Act Not required Required
- Input tax credit Not allowed Allowed
- Maintenance of records under the Sales
Tax Act
Not required Compulsory- Filing of return under Sales Tax Act. Not required Required
- Invoicing requirements Invoices are
raised
No sales tax invoice shall
be raised