This Blog is written by Mr. Sharif ud din Khilji, FCA, Partner/ Chief Executive, Khilji & Co. Chartered Accountants. Please read this blog and provide us your valued comments. ANOMALIES IN CONSTRUCTION AMNESTY SCHEME Industrial undertaking The construction sector entities are declared “industrial undertaking” only for the purpose of import of plant & machinery. Other sectors who fall [...]
In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of APRIL 2020. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (APRIL 2020.) KCO Newsletter April 2020 This Newsletter envisages following aspects: SIGNIFICANT PUBLICATIONS OF THE MONTH COMMENTARY [...]
ISSUING AUTHORITY: FEDERAL BOARD OF REVENUE POWERS EXERCISED U/S: 50 of STA, 1990 NOTIFICATION NO: SRO. 353(1)/2020 DATE OF ISSUANCE: MAY 05, 2020 EFFECTIVE FROM: WITH IMMEDIATE EFFECT (i.e. MAY 05, 2020) AMENDMENTS MADE IN: SALES TAX RULES 2006 LINK [...]
ISSUING AUTHORITY: FEDERAL BOARD OF REVENUE POWERS EXERCISED U/S: 8B(4) & PROVISO TO SUB-SECTION 1 OF STA, 1990 NOTIFICATION NO: SRO. 344(I)/2020 DATE OF ISSUANCE: APRIL 29, 2020 EFFECTIVE FROM: WITH IMMEDIATE EFFECT (i.e. APRIL 29, 2020) AMENDMENTS MADE IN: SRO 1190(I)/2019 DATED OCTOBER 2, 2019 COMMENTARY: Earlier FBR has issued SRO 1190(I)/2019 [...]
ISSUING AUTHORITY: FEDERAL BOARD OF REVENUE POWERS EXERCISED U/S: 3(2A)(a) OF ICT (Tax on Services) Ordinance, 2001 3(2)(b) of STA, 1990 NOTIFICATION NO: SRO. 326(I)/2020 DATE OF ISSUANCE: APRIL 2, 2020 EFFECTIVE FROM: WITH IMMEDIATE EFFECT (i.e. APRIL 27, 2020) AMENDMENTS MADE IN: SRO 495(I)/2016 DATED JULY 4, 2016 COMMENTARY: Earlier this month, [...]
Introduction Amid the growing concerns of COVID – 19 pandemic, State Bank of Pakistan (SBP) has, thus far, announced a number of regulatory relief measures for the financial sector and real economy. These measures are primarily aimed at ensuring the safety and soundness of banking sector while enhancing their lending capacity to support [...]
The Stamp (Amendment) Ordinance 2020 issued by Government of Punjab whereby rates of stamp duty on certain instruments have been reduced. The reduced rates are effective from 1 April 2020 and shall remain in force till 30 June 2020. Updated entries of Schedule-I to The Stamp Act, 1899 are also attached, Revised rates are highlighted [...]
Introduction In order to provide ease to our valued clients, Khilji and Co is please to publish the commentaries of Multiple Notifications from FBR and Punjab Revenue authority in single transmittal document. 1. ISSUING AUTHORITY: FEDERAL BOARD OF REVENUE (FBR) POWERS EXERCISED U/S: 74 OF STA, 1990 NOTIFICATION NO: C.No. 2 (1)/ST & [...]
Dear Valued Client, Government of Pakistan through The President of Pakistan issued Tax Law (Amendment)Ordinance 2020. This ordinance shall come into force at once. Khilji and Co is pleased to prepare and published a detailed Commentary on this Ordinance LINK OF DOCUMENTS Please click on links below to rad the Original [...]
INTRODUCTION Punjab Revenue Authority and Khyber Pakhtunkhwa Revenue authority has issued extensions in the dates of Payment and Filing Submission of Provincial Sales Tax Return for the Tax Period MARCH 2020. ISSUING AUTHORITY: Punjab Revenue Authority Khyber Pakhtunkhwa Revenue Authority POWERS EXERCISED U/S: SECTION 1 OF SECTION 84 OF PUNJAB [...]
