Tax Book 2023

(Ben LeoJzBdje) #1

Scope and Payment of Tax Chapter- 05



  • Gifts and giveaways and

  • Supply of electricity and gas to residential colonies of registered persons.

  • Building materials including cement, bricks, paint etc.

  • Office equipment (excluding electronic fiscal cash registers), furniture and fixtures

  • Electric and gas appliances, pipes, fitting, wires, cables, electrical and sanitary fittings

  • Crockery, cutlery etc
    Note: If a registered person shall acquire the aforesaid items a stock in trade than he can
    claim the input tax on such goods.
    The Federal Government vide SRO 549(I)/2006 dated June 05, 2006 has notified that if a
    person is making taxable supply of locally produced coal then such person shall not be
    allowed to claim input tax adjustment. Restriction on in admissibility of input against coal
    supply is open with further conditions vide SRO 592(I)/2017 dated July 01, 2017 i.e.
    Registered persons making taxable supply of locally produced coal where value of supply
    exceeds Rs. 5,000 per metric tonne.
    (c) the goods on which extra tax shall be charged;
    The Federal Government may collect extra tax on any specified items up to a maximum of
    17% in addition to the normal sales tax.
    Example of extra tax:
     Extra tax is levied @ 5% on supplies of electric power and natural gas to unregistered
    or inactive persons having industrial or commercial connections and whose bill in any
    month exceeds Rs. 15,000.
    (d) the goods or services in respect of which sales tax has not been deposited in the
    Government treasury by the respective supplier;
    (e) purchases in respect of which a discrepancy is indicated by CREST or input tax of which is
    not verifiable in the supply chain;
    (f) fake invoices;
    (g) purchases made by such registered person, who fails to furnish the information required
    by the Board.
    (h) goods and services acquired for personal use or non business consumption;
    (i) goods used in, or permanently attached to, immoveable property, such as building and
    construction materials, paints, electrical and sanitary fittings, pipes, wires and cables, but
    excluding pre-fabricated buildings and such goods acquired for sale or re-sale or for direct
    use in the production or manufacture of taxable goods;
    (j) vehicles falling in Chapter 87 of the First Schedule to the Customs Act, 1969, parts of such
    vehicles, electrical and gas appliances, furniture, furnishings, office equipment (excluding
    electronic registers), but excluding such goods acquired for sale or re-sale.
    (j) services in respect of which input tax adjustment is barred under the respective provincial
    sales tax law;
    (k) import or purchase of agricultural machinery or equipment subject to sales tax at the rate
    of 7% under Eighth Schedule to this Act; and
    (l) from the date to be notified by the Board, such goods and services which, at the time of
    filing of return by the buyer, have not been declared by the supplier in his return or he has
    not paid amount of tax due as indicated in his return.
    (m) the input goods or services attributable to supplies made to un-registered distributor, on
    pro-rata basis, for which sale invoices do not bear the NIC number or NTN as the case
    may be, of the recipient as stipulated in section 23

Free download pdf