The condition of National Identity Card on shopping worth more than Rs50,000 will be in effect from August 1.
Lahore (Pakistan Point News – 27th July, 2019) The condition of Identity Card on shopping of Rs50,000 will be enforced from August 1.
As per details, the condition of National Identity Card on shopping worth more than Rs50,000 will be in effect from August 1.
The Federal board of Revenue (FBR) has declared that from August 1 onwards, it would be mandatory for shopkeepers to ask for National Identity cards of customers shopping over Rs50,000.
Females would be allowed to show the identity cards of their father or husband.
Also, FBR has declared it illegal to sale cigarettes at a price lower than the retail rate.
The Federal Excise Duty (FDE) on unprepared tobacco has been reduced to Rs10 from Rs300. Moreover, the Fixed Tax of Rs7000 to Rs12000 on brick kilns will also come into effect from August 1.
Under the Finance Act 2019, a notification of amendments in Tax Laws has also been issued. New tax slabs have been issued for local and imported cars. As per FBR, 2.5% excise duty would be charged for a 1000CC car, and 5% for a car between 1001 to 1799 CC.
According to media reports, FBR has explained the amendments in Sales Tax Act under the Finance Bill 2019.
According to the notification, FBR has withdrawn all sales tax general order. The circular says that FBR has withdrawn all Sales Tax General Orders, Sales Tax Special Procedure Rules and Sales Tax Special Procedure Withholding Rules. Rules of defining Cottage Industry have been changed to such industries which are in residential areas, have less than 10 workers and whose annual turnover is less than Rs3 million.
Industries having commercial meters of electricity and gas will not fall under the definition of cottage industries.
Shops of upto 1000 sq ft. will now be included in the list of tier one retailer and will have to pay the sales tax at standard rates. Apart from paying custom duty at imports, sales tax will have to be paid at local selling price.
