'5pc' regime restored from Nov 4

ISLAMABAD: The old sales tax zero-rating regime for five export sectors and commercial importers under SRO.283(I)/2011 would reckoned to be restored from November 4, 2011.

Sources told Business Recorderthat the proposed notification would suspend the applicability of the SRO.1012(I)/2011 (revamped zero-rating regime), dated November 4, 2011.

Under the draft notification, the SRO.1012(I)/2011 would be held in abeyance and SRO.283(I)/2011 would become operational retrospectively from November 4, 2011.