Central Board of Revenue is pleased to direct that the following further amendments shall be made in the Federal Excise Rules, 2005,

GOVERNMENT OF PAKISTAN CENTRAL BOARD OF REVENUE (REVENUE DIVISION) *** Islamabad, the 21st June, 2006 NOTIFICATION (Federal Excise) S.R.O. 647(I)/2006.- In exercise of the powers conferred by section 40 of the Federal Excise Act, 2005, the Central Board of Revenue is pleased to direct that the following further amendments shall be made in the Federal Excise Rules, 2005, namely:- In the aforesaid Rules,-- (a) in rule 24B, for the figure “4”, the figure “2”, shall be substituted. (b) in rule 40A,---- (i) in sub-rule (5) for the figure “49”, the figure “47”, shall be substituted, and . (ii) after sub-rule (6), the following new sub-rule shall be inserted, namely:- “(6a) The banking companies shall not be required to issue invoices in respect of the services provided or rendered. A reconciliation statement in the format set out in Annex to these rules shall be filed by banking companies registered under the Act by the 15th of the month following the end of every quarter”; (c) in rules 40B, 41A, 42A and 43A for the figure “49”, wherever occurring, the figure “47”, shall be substituted; (d) in rule 51, sub-rule (3), in clause (b), for the word “five”, the word “fifteen” shall be substituted; and (e) after FE-IV(f), the following Annex shall be added, namely:- ANNEX [See rule 40A(6a)] Quarterly reconciliation of Federal Excise Services provided by the Banking Companies under rule 40A of the Federal Excise Rules, 2005 Name of the Bank ____________________________________ Federal Excise Registration No. _________________________ Quarter ended _______________________________________ S No. | Particulars of service | Value of Services as per Return(in Rs) Month 1 | Month 2 | Month 3 | Total a) | L/C commission; b) | guarantee commission; c) | brokerage commission; d) | issuance of pay order and demand drafts; e) | bill of exchange charge; f) | transfer of money including telegraphic transfer, mail transfer and electronic transfer; g) | providing bank guarantees; h) | bill discounting commission; i) | safe deposit lockers fee; j) | safe vaults; k) | credit and debit card issuance, processing, operation charges; and l) | commission and brokerage on foreign exchange dealings; Total RECONCILIATION (in Rs) Value of services as above | Amount | FED @ 5% | FED paid Month 1 Month 2 Month 3 Total: Amount of Services as per published accounts: ________________________ Difference if any: ________________________ [C.No.1/1-STB/2006] (Wajid Ali) Secretary (ST & FE Budget)