S.R.O. 673(I)/2004, Islamabad, the 9th August, 2004

SROS: S.R.O. 673(I)/2004, Islamabad, the 9th August, 2004 AMENDMENT IN SALES TAX SPECIAL PROCEDURE RULES, 2004 S.R.O. 673(I)/2004, Islamabad, the 9th August, 2004:- In exercise of the powers conferred by section 71 of the Sales Tax Act, 1990, read with clause(9) of section 2, section 3, 3AA and 4, sub-section(2) of section 6, section 7A, clause(b) of sub-section(1) of section 8, clause(a) of sub-section(2) of section 13, section 26AA and 34A, and the first and second provisos to section 45 thereof, the Federal Government is pleased to direct that following further amendments shall be made in the Sales Tax Special Procedure Rules, 2004, namely:- In the aforesaid rules, (a) in rule 16, in sub-rule(1), for clause(e), the following shall be substituted, namely:- (e) value addition means the value added by the retailer on the value for which the goods are acquired (purchased) by him and calculated in the manner specified in Rule 19. Explanation: For a particular tax period the value for which the goods are acquired shall be the sum of the values indicated in all the invoices, bills, vouchers, cash payment slips and cash memos against which the goods are purchased by a retailer in a tax period. (b) for rule 19, the following shall be substituted, namely:- 19. Determination of sales…