Topic

Sales Tax Act

Updated tax laws omit footnotes on replaced legal provisions

Published 20 Jul, 2026 05:50am

ISLAMABAD: The updated Sales Tax Act, 1990 and Federal Excise Act, 2005 has not mentioned brief explanatory...

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 / Jul 28	278.05
USD PKR Interbank Buying / Jul 28	277.85
USD to Japanese Yen / Jul 29	163.55
USD to Swiss Franc / Jul 29	0.82
Pound Sterling to USD / Jul 29	1.33
Euro to USD / Jul 29	1.14
SOFR % / Jul 28	3.64

Stock	Volume
S&P 500 / Jul 28	7,428.78
Nasdaq / Jul 28	24,876.91
Dow Jones / Jul 28	52,747.32
India Sensex / Jul 29	77,603.30
Tokyo Nikkei / Jul 29	61,689.86
Hang Seng / Jul 29	25,684.44
FTSE 100 / Jul 29	10,884.40
Germany DAX 30 / Jul 29	25,391.76
France CAC40 / Jul 29	8,409.58

Item	Value
Karachi Cotton PKR/37.32 KG / Jul 28	18,480
Gold 10 Grams PKR / Jul 28	366,457
Petrol/Litre / Jul 29	335.81
Crude Oil USD/Barrel / Jul 29	82.20
Gold Spot USD/Ounce / Jul 29	4,042.26
Diesel/Litre / Jul 29	388.38
Cotton US¢/pound / Jul 29	80.52

Gainers
Losers
Leaders

Stock	Price
Siddiqsons Tin / Jul 29 Siddiqsons Tin Plate Limited(STPL)	10.18 ▲ 1 (10.89%)
Gulistan Sp. / Jul 29 Gulistan Spinning Mills Limited(GUSM)	10.65 ▲ 1 (10.36%)
Reliance Ins. / Jul 29 Reliance Insurance Company Limited(RICL)	13.37 ▲ 1.22 (10.04%)
Premier Insurance / Jul 29 Premier Insurance Limited(PINL)	11.08 ▲ 1.01 (10.03%)
786 Invest Ltd / Jul 29 786 Investments Limited(786)	25.80 ▲ 2.35 (10.02%)
Trust Mod. / Jul 29 Trust Modaraba(TRSM)	19.99 ▲ 1.82 (10.02%)
Aisha Steel(ConPS) / Jul 29 Aisha Steel(ConPS)(ASLPS)	32.20 ▲ 2.93 (10.01%)
Prosperity Weav / Jul 29 Prosperity Weaving Mills Limited(PRWM)	68.05 ▲ 6.19 (10.01%)
Ruby Textile / Jul 29 Ruby Textile Mills Limited(RUBY)	18.25 ▲ 1.66 (10.01%)
Dadabhoy Cement / Jul 29 Dadabhoy Cement Industries Limited(DBCI)	25.19 ▲ 2.29 (10%)

Stock	Price
Maqbool Textile / Jul 29 Maqbool Textile Mills Limited(MQTM)	29.93 ▼ -3.33 (-10.01%)
Chashma / Jul 29 Chashma Sugar Mills Limited(CHAS)	89.63 ▼ -9.96 (-10%)
Khairpur Sug. / Jul 29 Khairpur Sugar Mills Limited(KPUS)	1,203.44 ▼ -133.71 (-10%)
National Silk / Jul 29 The National Silk & Rayon Mills Limited(NSRM)	273.69 ▼ -30.41 (-10%)
Shahtaj Sugar / Jul 29 Shahtaj Sugar Mills Limited(SHJS)	157.19 ▼ -17.47 (-10%)
Power Cem(Pref) / Jul 29 Power Cement (Pref)(POWERPS)	23.31 ▼ -2.55 (-9.86%)
Khalid Siraj / Jul 29 Khalid Siraj Textile Mills Limited(KSTM)	13.55 ▼ -1.25 (-8.45%)
Dewan Automotive Eng. / Jul 29 Dewan Automotive Engineering Limited(DWAE)	21.40 ▼ -1.96 (-8.39%)
First Tri-Star Mod. / Jul 29 First Tri-Star Modaraba(FTSM)	34.88 ▼ -3.08 (-8.11%)
Pak Engineering / Jul 29 Pakistan Engineering Company Limited(PECO)	690 ▼ -60 (-8%)

Stock	Volume
Cnergyico PK / Jul 29 Cnergyico PK Limited(CNERGY)	58,525,572 ▼ -0.19
WorldCall Telecom / Jul 29 Worldcall Telecom Limited(WTL)	48,701,793 ▼ -0.01
Siddiqsons Tin / Jul 29 Siddiqsons Tin Plate Limited(STPL)	47,002,324 ▲ 1
Trust Sec.& Brok. / Jul 29 Trust Securities & Brokerage Limited(TSBL)	40,338,000 ▲ 0
TPL Properties / Jul 29 TPL Properties Limited(TPLP)	18,531,812 ▲ 0
Samba Bank / Jul 29 Samba Bank Limited(SBL)	18,372,516 ▲ 1.05
Maple Leaf Cement / Jul 29 Maple Leaf Cement Factory Limited(MLCF)	18,273,626 ▼ -1.17
Pak Refinery / Jul 29 Pakistan Refinery Limited(PRL)	16,460,689 ▼ -1.88
TPL Corp Ltd / Jul 29 TPL Corp Limited(TPL)	14,557,637 ▼ -0.05
Pak Int.Bulk / Jul 29 Pakistan International Bulk Terminal(PIBTL)	12,795,284 ▲ 0.28

Sales Tax Act

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