S.R.O. 363(I)/2012, Islamabad, the 13h April, 2012

RULES FOR PRESCRIBING THE PROCEDURE FOR PROCESSING OF REFUND CLAIMS OF RECOGNIZED AGRICULTURAL TRACTOR MANUFACTURERS GOVERNMENT OF PAKISTAN FEDERAL BOARD OF REVENUE *** Islamabad, the 13h April, 2012 NOTIFICATION (Sales Tax) S.R.O. 363(I)/2012, Islamabad, the 13h April, 2012:- In exercise of the powers conferred by sections 8B, 10 and 50 of the Sales Tax Act, 1990, the Federal Board of Revenue is pleased to make the following rules for prescribing the procedure for processing of refund claims of Recognized Agricultural Tractor Manufacturers, namely:- 1. Short title and commencement -(1) These rules may be called the Refund Claims of Recognized Agricultural Tractor Manufacturers Rules, 2012. (2) They shall come into force at once and shall be deemed to have taken effect on the 2nd February, 2012. 2. Filling of refund application - The refund claimant shall file a refund application to the Commissioner, Inland Revenue having jurisdiction, along with the following documents, namely:- (a) a copy of tax paid and e-filed sales tax return; (b) an undertaking affirming the genuineness of refund as per Sales Tax Act, 1990 and relevant rules made thereunder; and (c) a revolving bank guarantee valid for at least ninety days issued by a scheduled bank, to the satisfaction of the commissioner, Inland Revenue having jurisdiction, of an amount not less than the average monthly refund claim during last twelve months. 3. Refund of input tax - The refund of admissible excess input tax shall be allowed on the basis of above documents within three days of receipt thereof. 4. Filling of complete refund claim = Within fifteen days of the sanctioning of refund, the claimant shall file a complete refund claim along with the requisite supportive documents prescribed in rule 38…