S.R.O. 966(I)/2002, dated 30th December, 2002

SROS: S.R.O. 966(I)/2002, dated 30th December, 2002 SPECIAL PROCEDURE FOR MANUFACTURERS-CUM-SUPPLIERS OF SPUN YARN RULES, 2002 Notification No. S.R.O. 966(I)/2002, dated 30th December, 2002:- In exercise of the powers conferred by sub-section(1) of section 71 of the Sales Tax Act, 1990. read with clause(a) of sub-section(2) of section 13 thereof, the Federal Government is pleased to make the following rules namely:-- 1. Short title, application and commencement.--(1.5 These rules may be called the Special Procedure for Manufacturers Yarn-Suppliers of Spun Yarn Rules, 2002. (2) They shall apply to such supply of spun yarn of all sorts by manufacturers-cum-suppliers of spun yarn who are members of the All Pakistan Textile Mills Association(hereinafter abbreviated as APTMA) and duly certified by APTMA. (3) They shall come into force at once. 2. Definitions.--(1) In these rules, unless there is anything repugnant in the subject or context,-- (a) Act means the Sales Tax Act, 1990: (b) Annexure means the Annexure to these rules; (c) manufacturers-cum-suppliers of spun yam means a person registered as manufacturer of spun yam under section 14 of the Act, and who is a member of APTMA; and (d) spun yam means yarn spun from cotton or other natural and man made materials or any blends thereof. (2) The words and expressions used hut not defined in these rules shall have the meaning assigned to them under the Act. Exemption.--Supply of spun yarn by a manufacturers-cum-suppliers of spun yarn shall be exempt from the levy of further tax under sub-section(1A) of section 3 of the Act provided that,-- (i) the manufacturer-cum-supplier makes supplies of spun yarn against crossed cheque or any other banking instrument showing transfer of payment in the bank account of seller from the bank account of buyer and the information about the supplies made is furnished to the Collector of Sales Tax having jurisdiction over the manufacturer cum-supplier, in the form as set out in Annexure-A(hard copy alongwith soft copy in Excel format) by the 15th day of the following month; (ii) the supplies for which the information cannot be provided as required under clause(i) above shall be deemed to…