S.R.O. 998(I)/2003, Islamabad, the 23rd October, 2003

SROS: S.R.O. 998(I)/2003, Islamabad, the 23rd October, 2003 SPECIAL PROCEDURE FOR MANUFUCTURERS-CUM-SUPPLIERS OF SPUN YARN RULES, 2003 S.R.O. 998(I)/2003, Islamabad, the 23rd October, 2003:- 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) These rules may be called the Special Procedure for Manufacturers- cum-Suppliers of Spun Yarn Rules, 2003. (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 called as APTMA) and duly certified by APTMA. (3) These rules shall be deemed to have come into force on the 1st September, 2003 and shall remain in force till the 29th February, 2004 and thereafter shall stand rescinded. 2.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 yarn means a person registered as manufacturer of spun yarn under section 14 of the Act and is a member of APTMA; and (d) spun yarn means yarn spun from cotton or other natural and man made materials or any blends thereof. (2) The words and expressions used but not defined in these rules shall have the same meaning as are assigned to them under the Act. 3. Exemption. Supply of spun yarn by a manufacturer-cum-supplier of spun yarn shall be exempt from the levy of further tax under sub-section(1A) of section 3 of the Act provided that (a) 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…