FBR has issued a new scheme for waiver of default surcharge and penalty in cases of illegal input tax adjustment subject to condition ......
SRO 774(I)/2012 is a Sales Tax SRO dated 27 June 2012, listed by FBR as "FBR has issued a new scheme for waiver of default surcharge and penalty in cases of illegal input tax adjustment subject to condition ......".
FBR publishes this SRO as scanned images, so the text below was transcribed by Qanoon Digest from the page images, with tables set out as tables. Check the official PDF before relying on any wording or figure.
Page 1
Government of Pakistan
Ministry of Finance, Economic Affairs,
Statistics and Revenue
(Revenue Division)
Islamabad, the 27th June, 2012.
NOTIFICATION
(SALES TAX)
S.R.O. 774 (I)/2012. - In exercise of the powers conferred by section 34A of the Sales Tax Act, 1990, the Federal Government, in supersession of its Notification No. S.R.O. 606(I)/2012, dated the 1st day of June, 2012, is pleased to exempt the whole amount of default surcharge and penalties payable by a person against whom an amount of sales tax is outstanding on account of illegally adjusted input tax, subject to the following conditions:-
(i) twenty-five per cent of the principal amount of illegally adjusted sales tax is paid by the 30th June, 2012;
(ii) the remaining principal amount (seventy-five percent) is paid by the 31st December, 2012 in five equal monthly installments with first installment payable on the 31st August, 2012; and
(iii) any case, complaint or proceedings filed by the registered person before any court of law, Federal Tax Ombudsman or any other authority is withdrawn by 31st December, 2012.
Any criminal proceedings lodged by the department shall abate from the date of complying with the above conditions by the registered person.
In case payment is not made as per conditions mentioned above, benefit under this notification shall abate ab initio.
[C.No. 4(21)ITP/2011-Pt.II]
(Sardar Aminullah Khan)
Additional Secretary
Related Sales Tax SROs on special procedures and schemes
- SRO 1486 (I)/201224 December 2012Amendments in the Sales Tax Special Procedure Rules, 2007
- SRO 801(I)/201230 June 2012Amendment in the Sales Tax Special Procedure Rules, 2007. Changes in Chapter XI of the said Rules.
- SRO 592(I)/20121 June 2012Amendment in Sales Tax Special Procedure Rules, 2007
- SRO 332(I)/201231 March 2012SRO 332(I)/2012 dated 31.03.2012 is an amendment Rule 58 1 of the Sales Tax Special Procedure Rules, 2007.
- SRO 1(I)/20122 January 2012Amendment in Sales Tax Special Procedure Rules, 2007
- SRO 1125(I)/201131 December 2011The scheme of zero-rating of five major export oriented sectors has been revamped to introduce a uniform rate (reduce sales tax @ 5 % instead of earlier rate of 4 % and 6%). This SRO will take effect from 1st January, 2012. This SRO is being issued in rescission of SRO 1058(I)/2011, dated 23-11-2011.