Amendments in Sales Tax Refund Rules, 2002

GOVERNMENT OF PAKISTAN MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS & REVENUE CENTRAL BOARD OF REVENUE ******** Islamabad, the 27th February, 2003. NOTIFICATION (SALES TAX) S.R.O. 203(I)/2003.- In exercise of the powers conferred by section 50 of the Sales Tax Act, 1990, read with the first and second provisos to sub-section (1) and sub-section (2) of section 10 thereof, the Central Board of Revenue is pleased to direct that the following amendments shall be made in the Sales Tax Refund Rules, 2002, namely:- In the aforesaid Rules, in rule 14, in the proviso,- (a) for the figures and word “31st December, 2002” the figures and word “30th June, 2003” shall be substituted; and (b) for the full stop, at the end, a colon shall be substituted and thereafter the following further proviso shall be added, namely:- “Provided further that refund claims filed by commercial exporters may be sanctioned and paid if a bank guarantee, in the format prescribed by the Board, is submitted by the commercial exporters in lieu of Bank Credit Advice (BCA) for refund claims filed till 30th June, 2003.”. [C.No.3(12)ST-L&P/2002] (Dr. KAMAL AZHAR MINHAS) Secretary (ST-L&P)