Procedure for payment of refund to OEMs of vehicles for months July 2007 to December 2007

GOVERNMENT OF PAKISTAN (REVENUE DIVISION) FEDERAL BOARD OF REVENUE ******** Islamabad, the 11th December, 2007. NOTIFICATION (SALES TAX) S.R.O. 1203(I)/2007.⎯In exercise of the powers conferred by the second proviso to sub-section (1) of section 10 of the Sales Tax Act, 1990, the Federal Board of Revenue is pleased to prescribe the following procedure for refund of excess input tax against taxable supplies of vehicles falling in PCT heading 87.03 by original equipment manufacturers (OEMs), namely:─ (a) The excess of admissible input tax over output tax during the tax periods from July 2007 to December 2007 shall be paid as refund under this notification; (b) the refund claims with supportive documents shall be filed by the registered person by the 31st January 2008; (c) the refund claims under this notification shall be submitted, processed and sanctioned in the same manner as provided for in Chapter V of the Sales Tax Rules, 2006; (d) the refund claims shall be sanctioned within thirty days of filing of supportive documents for the claim; (e) the amount claimed as refund under this notification shall not be reflected in the monthly sales tax return for January 2008 as input tax credit brought forward; and (f) the refund claimants shall submit an undertaking to the effect that the amount claimed as refund has not been previously adjusted against output tax. [C. No. 2(77)ST-L&P/95] (Abdul Hameed Memon) Secretary (ST-L&P)