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 Recorder here on Tuesday that 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.