20000125Instructions to ST collectorates

Recorder Report

ISLAMABAD: The CBR on Monday issued instructions to Collectorates of Sales Tax suspending input adjustment or refund claims on transactions above Rs. 50,000 through crossed cheque, crossed bank draft and pay order till June 30, 2000.

The Board has referred to the addition of section 73 in the Sales Tax Act 1990 through the Tax Laws (Amendment) Ordinance, 1999. Upon review, the government has decided to withhold the operation of the said provisions till June 30, 2000.

Federal Finance Minister Shaukat Aziz in a meeting with the representative of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) last Saturday had agreed to hold the decision in abeyance.