Topic

Sales Tax Act 1990

Probe before any arrest: FBR wing legally bound to consult business reps

Updated 07 Aug, 2025 09:26am

ISLAMABAD: Fulfilling a major demand of the business community, the Federal Board of Revenue (FBR) Member (Inland...

ICAP says AOB in finance bill may not be appropriate forum

Published 23 Jun, 2025 06:29am

KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) has reviewed the discussions held during the...

Only SRB submits Finance Bill feedback to Senate panel

Updated 16 Jun, 2025 09:27am

ISLAMABAD: Except Sindh Revenue Board (SRB), provinces have not submitted their observations on the Finance Bill...

SC larger bench confirms decision in Super Asia case

Updated 18 May, 2025 09:20am

ISLAMABAD: A larger bench of the Supreme Court confirmed the decision in the Super Asia case, and affirmed the...

Entry-151 of Sixth Schedule to STA: SC CB grants status quo, restores amendment

Updated 15 May, 2025 09:35am

ISLAMABAD: The Constitutional Bench of the Supreme Court granting status quo, restored and maintained the amendment...

FBR deputes officers at 21 beverages cos

Updated 12 May, 2025 09:30am

ISLAMABAD: The Federal Board of Revenue has deputed over 50 Inland Revenue officers at 21 beverage manufacturing...

Veg ghee mill: ATIR annuls Rs1.5bn GST demand by Peshawar RTO

Published 23 Mar, 2025 05:26am

ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR) has annulled sales tax demand amounting to Rs1.5 billion...

SHC could initiate proceedings against CTO IR chief

Published 20 Mar, 2025 05:30am

ISLAMABAD: Sindh High Court (SHC) will initiate proceedings against Chief Commissioner Corporate Tax Office (CTO),...

‘Fake’ purchase of coal by cement makers: Abrupt transfer of officers halts probe into Rs11bn tax fraud

Updated 10 Dec, 2024 03:25pm

KARACHI: The Federal Board of Revenue (FBR) has reportedly halted investigations into an alleged Rs11 billion tax...

Input tax claim and credit: SC defines applicability of Section 8 of Sales Tax Act

Updated 17 Nov, 2024 09:38am

ISLAMABAD: The Supreme Court observed that Section 8 of the Sales Tax Act, 1990, only prohibits the claim, credit or...

Review plea against apex court verdict: SC rules on Section 45B(2) of ST Act provisos

Published 14 Nov, 2024 08:16am

ISLAMABAD: The Supreme Court by majority declared that first and second provisos to Section 45B(2) of the Act are...

Sales tax condonation for time limit: FBR issues ‘checklist’ for taxpayers

Updated 19 Sep, 2024 08:51am

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a “checklist” for processing of condonation cases of...

Commissioner IR tells APTMA member mills: FBR devises three automated systems to streamline payment system

Published 30 Aug, 2024 06:08am

LAHORE: Raza Ashfaq Sheikh, Commissioner Inland Revenue and Member Sales Tax Appellate Tribunal Punjab, has ...

Imported goods specified in Third Schedule: FBR empowered to fix value of supply

Updated 06 Aug, 2024 09:07am

ISLAMABAD: The Federal Board of Revenue (FBR) has been empowered to fix the value of supply in case of imported...

‘Tax fraud’ definition expanded under revised Sales Tax Act 1990

Updated 26 Jul, 2024 09:40am

ISLAMABAD: The “tax fraud” would cover any person, who would make taxable supplies without getting sales tax...

New section added to ST Act 1990: Concept of ‘investigative audit’ introduced

Published 13 Jun, 2024 06:22am

ISLAMABAD: A major change having far-reaching consequences proposed in the Finance Bill 2024 is the introduction of...

Exporter succeeds in obtaining input tax against alleged fake/flying invoices

Published 01 Dec, 2023 04:43am

LAHORE: A silk manufacturer cum exporter has succeeded in obtaining input tax against the alleged fake/flying...

Manufacturing premises: FBR refuses DA to IR staff

Published 23 Nov, 2023 03:19am

ISLAMABAD: The Federal Board of Revenue (FBR) has refused to grant daily allowance (DA) to the officers/ staff of...

I&I-IR detects illegal adjustments of Rs70bn input tax

Updated 15 Oct, 2023 09:37am

ISLAMABAD: The Directorate General Intelligence and Investigation Inland Revenue (I&I-IR)’s national...

Two accused held under Section 37A of ST Act 1990

Published 29 Sep, 2023 06:24am

ISLAMABAD: In an effort to curb the menace of fake and flying invoices, Directorate of Inland Revenue Intelligence...

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...

Sale tax law: expert approves of new definition of ‘tax fraud’

Updated 31 Jul, 2023 09:46am

ISLAMABAD: The acquirers or possessors (traders) of smuggled/ domestic goods, on which sales tax has not been paid,...

FBR to ‘sell’ excise rules, general orders, departmental rulings to public

Updated 06 Jul, 2023 08:39am

ISLAMABAD: The Federal Board of Revenue (FBR) will “sell” federal excise rules, general orders and departmental...

Track & trace system scheme not violative of sales tax law: IHC

Updated 01 May, 2023 09:04am

ISLAMABAD: Islamabad High Court (IHC) has ruled that the entire scheme of the track and trace system of the Federal...

Computerised arms licences: FBR asked to confirm sales tax chargeability

Published 15 Mar, 2023 06:01am

ISLAMABAD: The Federal Tax Ombudsman (FTO) on Tuesday directed the Federal Board of Revenue (FBR) to confirm the...

Tier-1 retailers unhappy with direct imposition of ‘highest’ penalty

Published 05 Mar, 2023 03:36am

LAHORE: The Tier-1 Retailers (T-1Rs) are offended with direct imposition of the highest degree of penalty by the...

Well-known outlet sealed over failure to install PoS app

Published 03 Mar, 2023 06:12am

RAWALPINDI: The Regional Tax Office (RTO), Rawalpindi, on Thursday sealed a famous business outlet over failure to...

RTO Peshawar seizes huge quantity of illicit goods

Published 20 Jan, 2023 06:10am

ISLAMABAD: The mobile squads of the Regional Tax Office (RTO) Peshawar have seized a huge quantity of goods ...

Sugar industry: Major problems detected in FBR’s track & trace system

Published 24 Aug, 2022 05:08am

LAHORE: If not completely then largely, the Federal Board of Revenue’s track & trace system has failed to...

Less than Rs100m GST liability: Tax-related disputes can’t be brought before FBR

Published 23 Jul, 2022 04:10am

ISLAMABAD: Taxpayers now cannot bring tax-related disputes before the Federal Board of Revenue (FBR) involving sales...

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Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 3	278.65
USD PKR Interbank Buying / Jun 3	278.45
USD to Japanese Yen / Jun 3	159.93
USD to Swiss Franc / Jun 3	0.79
Pound Sterling to USD / Jun 3	1.34
Euro to USD / Jun 3	1.16
SOFR % / Jun 3	3.63

Stock	Volume
S&P 500 / Jun 3	7,553.68
India Sensex / Jun 3	74,346.17
Tokyo Nikkei / Jun 3	68,402.13
Nasdaq / Jun 3	26,853.97
Hang Seng / Jun 3	25,633.21
FTSE 100 / Jun 3	10,332.30
Dow Jones / Jun 3	50,687.07
Germany DAX 30 / Jun 3	24,795.94
France CAC40 / Jun 3	8,150.42

Item	Value
Crude Oil USD/Barrel / Jun 3	95.34
Gold 10 Grams PKR / Jun 3	401,030
Gold Spot USD/Ounce / Jun 3	4,452.30
Cotton US¢/pound / Jun 3	80.51
Petrol/Litre / Jun 4	381.78
Diesel/Litre / Jun 4	380.78

Gainers
Losers
Leaders

Stock	Price
Wasl Mobility Mod. / Jun 3 Wasl Mobility Modaraba(WASL)	5.91 ▲ 1 (20.37%)
Gulshan Sp. / Jun 3 Gulshan Spinning Mills Limited(GSPM)	6.18 ▲ 1 (19.31%)
First AL-Noor Mod. / Jun 3 First Al-Noor Modaraba(FANM)	6.88 ▲ 1 (17.01%)
Chenab Ltd (Pref) / Jun 3 Chenab Limited (Pref)(CLCPS)	3.85 ▲ 0.44 (12.9%)
Chenab Ltd / Jun 3 Chenab Limited(CHBL)	9.61 ▲ 0.91 (10.46%)
Askari Life Assur. / Jun 3 Askari Life Assurance Company Limited(ALAC)	19.24 ▲ 1.75 (10.01%)
Dawood Equities / Jun 3 Dawood Equities Limited(DEL)	20.56 ▲ 1.87 (10.01%)
Grays Leasing / Jun 3 Grays Leasing Limited(GRYL)	20.89 ▲ 1.9 (10.01%)
Shahzad Tex. / Jun 3 Shahzad Textile Mills Limited(SZTM)	68.38 ▲ 6.22 (10.01%)
Ideal Spinning / Jun 3 Ideal Spinning Mills Limited(IDSM)	72.48 ▲ 6.59 (10%)

Stock	Price
Khairpur Sug. / Jun 3 Khairpur Sugar Mills Limited(KPUS)	2,164.61 ▼ -240.51 (-10%)
Diamond Ind. / Jun 3 Diamond Industries Limited(DIIL)	71.48 ▼ -7.9 (-9.95%)
Tri-Star Mutual / Jun 3 Tri-Star Mutual Fund Limited(TSMF)	16.88 ▼ -1.62 (-8.76%)
Power Cem(Pref) / Jun 3 Power Cement (Pref)(POWERPS)	27.79 ▼ -2.41 (-7.98%)
Paramount Mod / Jun 3 First Paramount Modaraba(FPRM)	13.90 ▼ -1.1 (-7.33%)
AN Textile Mills / Jun 3 AN Textile Mills Limited(ANTM)	30.18 ▼ -2.23 (-6.88%)
Al-Khair Gadoon / Jun 3 Al-Khair Gadoon Limited(AKGL)	52.03 ▼ -3.68 (-6.61%)
Gammon Pak / Jun 3 Gammon Pakistan Limited(GAMON)	19.23 ▼ -1.32 (-6.42%)
Burshane LPG / Jun 3 Burshane LPG (Pakistan) Limited(BPL)	56.96 ▼ -3.61 (-5.96%)
Punjab Oil / Jun 3 Punjab Oil Mills Limited(POML)	147.13 ▼ -8.47 (-5.44%)

Stock	Volume
Treet Battery / Jun 3 Treet Battery Limited(TBL)	46,642,698 ▼ -0.03
Dewan Cement / Jun 3 Dewan Cement Limited(DCL)	33,760,377 ▲ 0.4
Sitara Petroleum Service / Jun 3 Sitara Petroleum Service Limited(SPSL)	25,238,548 ▲ 0.84
Beco Steel Ltd / Jun 3 Beco Steel Limited(BECO)	23,949,474 ▲ 0.46
P.T.C.L. / Jun 3 Pakistan Telecommunication Company Ltd(PTC)	23,376,596 ▲ 0.82
TPL Corp Ltd / Jun 3 TPL Corp Limited(TPL)	17,752,841 ▲ 0.38
Cnergyico PK / Jun 3 Cnergyico PK Limited(CNERGY)	16,285,113 ▼ -0.2
WorldCall Telecom / Jun 3 Worldcall Telecom Limited(WTL)	14,753,659 ▼ -0.01
K-Electric Ltd. / Jun 3 K-Electric Limited(KEL)	13,876,959 ▼ -0.12
Mahanna Islamic Index / Jun 3 Mahanna Islamic Index Traded Fund(MIIETF)	13,316,500 ▼ -0.13

Sales Tax Act 1990

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