S.R.O. 76(I)/2009, Islamabad, the 28th January, 2009

SROS: S.R.O. 76(I)/2009, Islamabad, the 28th January, 2009 AMENDMENTS IN SALES TAX RULES, 2006 GOVERNMENT OF PAKISTAN FEDERAL BOARD OF REVENUE (REVENUE DIVISION) (SALES TAX FEDERAL EXCISE WING) *** Islamabad, the 28th January, 2009 NOTIFICATION (Sales Tax) S.R.O. 76(I)/2009, Islamabad, the 28th January, 2009:- In exercise of the powers conferred by sub-section(1) of section 4 and section 40 of the Federal Excise Act, 2005, section 219 of the Customs Act, 1969(IV of 1969), section 50 of the Sales Tax Act, 1990, read with sub-section(2) of section 8, clause(ii) of sub-section(2) of section 8B, sections 9, 10, 14, 21 and 28, clause(c) of sub-section(1) of section 22, section 26, sub-section(6) of section 47A, section 48, 50A, 52, 52A and 66 thereof, the Federal Board of Revenue is pleased to direct that the following further amendments shall be made in the Sales Tax Rules, 2006, namely:- In the aforesaid Rules, for rule 39A, the following shall be substituted, namely:- 39A. Processing of refund claims in LTUs -(1) The refund claimant registered in a Large Taxpayer Unit, desirous of availing facility under this rule, shall file a refund application to the Collector of Sales Tax having jurisdiction along with the following documents, namely:- (a) an undertaking affirming the accuracy and genuineness of refund; and (b) a revolving bank guarantee, valid for at least one hundred and twenty days issued by a scheduled bank, to the satisfaction of Collector of Sales Tax(Large Taxpayers Unit), of an amount not less than amount of the refund claimed. (2) The refund claim shall be processed as follows:- (a) where the claimant has filed documents under sub-rule(1), the Collector shall process and allow fifty percent of the refund of input tax within five working days of…