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FBR Notifications

  ISSUING AUTHORITY:                                 FEDERAL BOARD OF REVENUE POWERS EXERCISED U/S:                         40 & 45A OF FEA, 2005 AND 40C & 50 OF STA, 1990 NOTIFICATION NO:                                      SRO. 831(I)/2020 DATE OF ISSUANCE:                                     SEPTEMBER 09, 2020 EFFECTIVE FROM:                                       WITH IMMEDIATE EFFECT (i.e. SEPTEMBER 09, 2020) AMENDMENTS MADE IN:                          SALES TAX RULES, 2006 LINK OF DOCUMENT      [...]

By | September 23rd, 2020|News|0 Comments

FBR Circular

INTRODUCTION Federal Board of Revenue has issued Sales Tax Circular 02 of 2020/IR Operations dated September 21, 2020. Vide this Circular it has issued SOPs to LTOs, RTOs, CTOs and MTO (whichever applicable) for processing of Condonation of Time Limit u/s 74 of Sales Tax Act 1990. Please click below to read the complete Circular [...]

By | September 22nd, 2020|News|0 Comments

The Islamabad Capital Territory Trust Act, 2020

The Islamabad Capital Territory Trust Act, 2020 The Islamabad Capital Territory Trust Act, 2020_compressed

By | September 10th, 2020|News|0 Comments

FBR Circular

INTRODUCTION   Federal Board of Revenue issues Circular No 3 of 2020 wherein FBR issued EXPLANATION OF IMPORTANT AMENDMENTS MADE IN THE INCOME TAX ORDINANCE, 2001 brought about through Finance Act 2020   LINK OF DOCUMENT  2020931892445579CircularNo.3of2020_compressed-min_compressed

By | September 4th, 2020|News|0 Comments

KPRA Notification

Introduction   Khyber Pakhtunkhwa Revenue Authority (KPRA) had issued Khyber Pakhtunkhwa Sales Tax on Service Special Procedures (Withholding) Regulation, 2015 for prescribing rules and regulations relating to withholding of provincial sales tax. These regulations have now been repealed with the introduction of ‘Khyber Pakhtunkhwa Sales Tax on Services (Withholding) Regulation, 2020’ (“Regulations”) vide Notification No. [...]

By | September 4th, 2020|News|0 Comments


This blog is written by Mr. Muhammad Kaleem Majeed. Please read this blog and provide your valued comments   BLACKLISTING AND SUSPENSION OF SALES TAX REGISTRATION   “We live on a mote of dust suspended in a sunbeam”  The purpose of this blog is to explain the lacuna of over-stretched powers given in Rule 12 [...]

By | September 4th, 2020|Blog, News|0 Comments

SECP Circular

DISCLOSURE OF IMPACT OF COVID-19 PANDEMIC ON FINANCIAL STATEMENTS OD COMPANIES   SECP vide Circular No. 26 of 2020 dated August 31, 2020 requiring Companies to make disclosure under separate note titled “Impact of Covid-19 on the Financial Statements” in first set of Annual or Interim Financial Statements issued after August 31, 2020.   The [...]

By | September 3rd, 2020|News|0 Comments

KCO Newsletter August 2020

In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of August 2020.  KCO Newsletter Aug 2020 Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (AUGUST 2020.)  This Newsletter envisages following aspects: COMMENTARY ON CASE LAW – APPELLATE TRIBUNAL [...]

By | September 3rd, 2020|News, Publications|0 Comments

FBR Notification

FBR Notification (770 (I)/2020)   Introduction   Federal Board of Revenue (Revenue Division) had issued Corrigendum in the Sales Tax Notification S.R.O. No. 770 (I)/2020 dated August 24, 2020.   Commentary   Earlier the aforesaid Notification was issued while reducing the rate of Sales Tax on import of sugar. However, through the aforesaid Corrigendum, the [...]

By | September 2nd, 2020|News|0 Comments

SECP Circular

Securities and Exchange Commission of Pakistan has issued Circular 25 of 2020 on August 31, 2020 wide subject: Corona Virus Contingency planning for general meetings of shareholders. In light of the continuing threat posed due to COVID-19  Pandemic and to protect well of the shareholder, the Securities and Exchange Commission of Pakistan (SECP), in exercise [...]

By | September 1st, 2020|News|0 Comments