Topic

Sales Tax Act

Budget 2026 - 27: Notes on clauses

Published 13 Jun, 2026 06:17am

CUSTOMS ACT,1969 (IV OF 1969) Clause 4(1) Seeks to add a new clause 2 (ssssa) to define State Warehouse for legal...

Tax collection: a system designed to fail

Updated 25 May, 2026 08:03am

EDITORIAL: Clearly, Pakistan’s repeated failure to meet tax collection targets is not merely a fiscal problem; it...

Printed retail price: Aurangzeb urged to extend Third Schedule coverage to grocery items

Updated 17 May, 2026 12:51pm

Consumer groups propose mandating printed retail prices on essential groceries in the 2026-27 budget to fight inflation, ensuring transparency and protecting consumers.

DG of Intelligence & Investigation IR: FBR empowers Director to approve inquiry initiation against businessmen involved in tax fraud

Published 18 Mar, 2026 04:35am

ISLAMABAD: The Federal Board of Revenue (FBR) has empowered the Director of the Directorate General of Intelligence...

Tax fraud: FBR issues SOPs for initiating probes, prosecutions, arrests

Updated 07 Mar, 2026 09:20am

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a Standard Operating Procedures (SOPs) for initiating...

Revenue officials may access any business premises: LHC

Published 28 Dec, 2025 03:08am

LAHORE: The Lahore High Court has held that Section 38 of Sales Tax Act authorizes Inland Revenue officers to access...

Sales Tax Act: Concerns raised over new SRO

Updated 06 Nov, 2025 08:42am

ISLAMABAD: Sales tax experts have raised serious concerns over the new S.R.O. 2071 (I)/ 2025, which does not provide...

Sec 66 of ST Act: SC marks out ‘tax period’

Updated 28 Sep, 2025 10:37am

ISLAMABAD: The Supreme Court held that the relevant tax period for purposes of Section 66 of the Sales Tax Act, 1990...

Deputation of IR men at factories: FBR notifies ‘grievance redressal body’

Updated 20 Sep, 2025 09:27am

ISLAMABAD: The Federal Board of Revenue (FBR) has notified the constitution of grievance redressal committee for the...

Online payment intermediaries: Penalties revised for tax fraud, non-filing

Updated 26 Jun, 2025 09:17am

ISLAMABAD: The amended Finance Bill (2025-26) has revised penalty regime for committing tax fraud and non-filing of...

Finance bill contains drafting errors: experts

Updated 23 Jun, 2025 02:13pm

ISLAMABAD: Finance Bill (2025-26) contains drafting errors and contradictions amongst taxing statues including...

Sales Tax Act: Proposed Section 37AA irks businessmen at large

Published 14 Jun, 2025 06:04am

LAHORE: Proposed insertion of a new Section 37AA in the Sales Tax Act has irked businessmen at large, authorizing an...

Sec 179(4) Customs Act: Power of FBR to grant extension ‘narrower’: SC

Updated 03 Jun, 2025 09:05am

ISLAMABAD: The Supreme Court noted that the power of Federal Board of Revenue (FBR) under Section 179(4) of the...

PVMA seeks removal of Section 8B of Sales Tax Act in budget

Published 21 May, 2025 06:28am

KARACHI: Sheikh Umar Rehan, Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA) has urged the ...

FBR amends ST Act to harmonise it with IT law

Updated 14 Jul, 2024 09:38am

LAHORE: The Federal Board of Revenue (FBR) has introduced amendments to the Sales Tax Act to harmonise it with...

Seeking stay from court against recovery: 30pc of disputed tax will be deposited with FBR under new Act

Published 09 May, 2024 03:11am

ISLAMABAD: Taxpayers have to deposit 30 percent of the determined tax with the Federal Board of Revenue (FBR) in...

Punjab govt to amend Sales Tax Act to improve PRA efficiency: minister

Published 04 May, 2024 05:48am

LAHORE: Punjab Finance Minister Mujtaba Shujaur Rehman has said that the documentation of the economy was imperative...

Tax-related disputes: SOEs allowed to adopt ADR facility before litigation

Published 25 Apr, 2024 03:05am

ISLAMABAD: The government has decided to allow state-owned enterprises (SOEs) to first avail the facility of the...

Input tax adjustment time: ST Act doesn’t stipulate any condition or time limit

Published 06 Feb, 2024 05:00am

LAHORE: The Sales Tax Act does not stipulate any condition or restriction of time for adjustment of the input tax...

Replacing defective parts of vehicles under warranty is not a taxable supply

Published 16 Jan, 2024 05:44am

LAHORE: A car manufacturer has proved that replacing defective parts of vehicles under warranty was not a taxable...

Units involved in tax fraud: FBR suggests new sections in ST Act for penal action

Updated 27 Aug, 2023 09:36am

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed separate sections in the Sales Tax Act for suspension of...

Draft amendments to income tax Ord: FBR seeks new powers for IR Commissioners

Updated 15 Aug, 2023 10:27am

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to give all basic administrative powers of income tax law...

NOTES ON CLAUSES

Published 10 Jun, 2023 05:01am

Clause 3(1)? Seeks to amend section 2 (s) to enable Pakistan Customs ...

Centre-provinces declaration: Power transmission will be treated as ‘service’ from July 1

Updated 06 Apr, 2023 08:45am

ISLAMABAD: The federal government and provinces have declared that the transmission of electricity would be treated...

Supply of sugar: LHC restrains FBR from setting minimum value

Published 21 Dec, 2022 06:05am

ISLAMABAD: The Lahore High Court (LHC) has restrained the Federal Board of Revenue (FBR) from the fixation of the...

Small retailers: fixed tax regime rationalized

Updated 22 Jul, 2022 09:17am

Tax amounts shall be doubled if name of retailer does not appear on Active Taxpayers List

Budgetary measures: FBR issues notifications

BR100
BR30
KSE100
KSE30
KMI30

1D 5D 3M 6M 1Y

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 12	278.52
USD PKR Interbank Buying / Jun 12	278.32
USD to Japanese Yen / Jun 12	160.24
USD to Swiss Franc / Jun 12	0.80
Pound Sterling to USD / Jun 12	1.34
Euro to USD / Jun 12	1.16
SOFR % / Jun 12	3.63

Stock	Volume
S&P 500 / Jun 12	7,431.46
India Sensex / Jun 12	75,527.95
Tokyo Nikkei / Jun 12	66,020.04
Nasdaq / Jun 12	25,888.84
Hang Seng / Jun 12	24,718.10
FTSE 100 / Jun 12	10,471.72
Dow Jones / Jun 12	51,202.26
Germany DAX 30 / Jun 12	24,635.30
France CAC40 / Jun 12	8,350.87

Item	Value
Crude Oil USD/Barrel / Jun 12	84.88
Karachi Cotton PKR/37.32 KG / Jun 12	21,780
Gold 10 Grams PKR / Jun 12	375,947
Gold Spot USD/Ounce / Jun 12	4,219.33
Cotton US¢/pound / Jun 12	76.42
Petrol/Litre / Jun 13	373.78
Diesel/Litre / Jun 13	378.78

Gainers
Losers
Leaders

Stock	Price
Arctic Textile / Jun 12 Arctic Textile Mills Limited(ARCTM)	33.75 ▲ 3.07 (10.01%)
Zephyr Textile / Jun 12 Zephyr Textiles Limited(ZTL)	20.45 ▲ 1.86 (10.01%)
AN Textile Mills / Jun 12 AN Textile Mills Limited(ANTM)	37.02 ▲ 3.37 (10.01%)
Elahi Cotton / Jun 12 Elahi Cotton Mills Limited(ELCM)	285.76 ▲ 25.98 (10%)
National Silk / Jun 12 The National Silk & Rayon Mills Limited(NSRM)	161.26 ▲ 14.66 (10%)
Pak. P.V.C. / Jun 12 Pakistan PVC Limited(PPVC)	28.59 ▲ 2.6 (10%)
Int. Knit. / Jun 12 International Knitwear Limited(INKL)	92.20 ▲ 8.38 (10%)
Siddiqsons Tin / Jun 12 Siddiqsons Tin Plate Limited(STPL)	8.44 ▲ 0.73 (9.47%)
IGI Holdings / Jun 12 IGI Holdings Limited(IGIHL)	284.15 ▲ 23.93 (9.2%)
Leiner Pak Gelat / Jun 12 Leiner Pak Gelatine Limited(LPGL)	100.33 ▲ 8.38 (9.11%)

Stock	Price
Idrees Tex. / Jun 12 Idrees Textile Mills Limited(IDRT)	50.10 ▼ -5.57 (-10.01%)
Kohat Textile / Jun 12 Kohat Textile Mills Limited(KOHTM)	121.46 ▼ -13.49 (-10%)
Pak Agro Pack. (GEM) / Jun 12 Pak Agro Packaging Limited (GEM)(GEMPAPL)	9.45 ▼ -1 (-9.57%)
Pak Qatar Family / Jun 12 Pak Qatar Family Takaful Limited(PAKQATAR)	22.19 ▼ -2.28 (-9.32%)
ARM Green Industries / Jun 12 ARM Green Industries Limited(ARMG)	46.40 ▼ -4.77 (-9.32%)
Power Cem(Pref) / Jun 12 Power Cement (Pref)(POWERPS)	23.80 ▼ -2.36 (-9.02%)
East West Ins. / Jun 12 East West Insurance Company Limited(EWIC)	48.54 ▼ -4.42 (-8.35%)
Unicap Modaraba / Jun 12 Unicap Modaraba(UCAPM)	5.20 ▼ -0.45 (-7.96%)
Pak Qatar Gen.Takaful / Jun 12 Pak Qatar General Takaful Limited(PQGTL)	15.42 ▼ -1.33 (-7.94%)
Oilboy Energy / Jun 12 Oilboy Energy Limited(OBOY)	20.42 ▼ -1.72 (-7.77%)

Stock	Volume
Kohinoor Spinning / Jun 12 Kohinoor Spinning Mills Limited(KOSM)	57,747,470 ▲ 0.15
B.O.Punjab / Jun 12 The Bank of Punjab(BOP)	52,924,034 ▲ 0.93
Sitara Petroleum Service / Jun 12 Sitara Petroleum Service Limited(SPSL)	52,648,271 ▲ 0.45
WorldCall Telecom / Jun 12 Worldcall Telecom Limited(WTL)	40,511,471 ▲ 0
Maple Leaf Cement / Jun 12 Maple Leaf Cement Factory Limited(MLCF)	35,896,472 ▲ 4.01
Oilboy Energy / Jun 12 Oilboy Energy Limited(OBOY)	33,427,696 ▼ -1.72
F. Nat.Equities / Jun 12 First National Equities Limited(FNEL)	28,855,016 ▼ -0.02
TPL Corp Ltd / Jun 12 TPL Corp Limited(TPL)	25,681,007 ▼ -0.82
Pak Int.Bulk / Jun 12 Pakistan International Bulk Terminal(PIBTL)	24,755,100 ▲ 0.24
Waves Home Appliances / Jun 12 Waves Home Appliances Limited(WAVESAPP)	20,120,122 ▲ 0.31

Sales Tax Act

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