020129

GOVERNMENT OF PAKISTAN REVENUE DIVISION CENTRAL BOARD OF REVENUE (SALES TAX WING)
Sales Tax Ruling /Instruction No.9/2002
Islamabad, the 29th January, 2002
C.No. 3(36)STP/99(Pt.I)

To: M/s Reckitt Benckiser Pakistan Ltd.,
11th Floor, State Life Building No. 11,
Abdullah Haroon Road, G.P.O. Box no. 625, KARACHI-74400

SUBJECT:

CLARIFICATION IN RESPECT OF SECTION 73 OF THE SALES TAX ACT, 1990

I am directed to refer to your letter dated 11.10.2001, on the captioned subject and to say that the payment made for a sum exceeding 50,000/- rupees, in respect of any transaction (excluding utility bills) for bearer instruments like traveller cheques is not covered under the provisions of section 73 of the Sales tax Act, 1990. The said provisions specifically provides that only those banking instruments showing transfer of the payment in favour of seller from the business account of the buyer are acceptable. Accordingly, payment made through bearer cheque/traveller cheque is not admissible in terms of its aforesaid legal provision.

Sd/-
(DR. ASHFAQ AHMED TUNIO)
Secretary (ST-L&P)