Amendment in Turn Over Tax Rules, 1999

GOVERNMENT OF PAKISTAN (REVENUE DIVISION) Islamabad, the 31st May, 2000 NOTIFICATION (Sales Tax) S.R.O. 296(I)/2000.--In exercise of the powers conferred by section 50 of the Sales Tax Act, 1990, read with sections 3A and 26A thereof, the Central Board of Revenue is pleased to direct that the following amendments shall be made in Turnover Tax Rules, 1999, namely, In the aforesaid Rules,- (1) in rule 1, sub-rule (2),- (i) after the word "retailers" the bracket and words ("including retailers who opt for turnover tax irrespective of amount of their total turnover)" shall be inserted; and (ii) in clause (a), for the word "persons" the words "manufacturers or producers" shall be substituted; (2) in rule 3, sub-rule (1), after the word "rupees", occurring for the second time, the brackets and words "(including those retailers who opt for turnover tax irrespective of their annual turnover)" shall be inserted; (3) in rule 4, after sub-rule (1), the following new sub-rule shall be added, namely , "(2) Notwithstanding the provisions of sub-rule (1), a retailer required to pay turnover tax shall furnish the return as provided under sub-section (6) of section 26A of the Act in the form specified in Annex-D." (4) in rule 5, in clause (iii) for the full stop, at the end, a colon shall be substituted and thereafter the following proviso shall be added, namely,- "Provided that a retailer required to pay turnover tax shall keep - (a) daily record of each purchase indicating description, quantity and value of goods purchased; (b) daily record of aggregate sales indicating value of goods sold; (c) monthly record of electricity bills, telephone bills, rent receipts, wage payment receipts, transport expenditure receipts and such other expenditures as relate to business activity; and (d) quarterly inventory records." (5) after Annex 'C', the following new annexure shall be added, namely,- Annex-D [See rule 4(2)] GOVERNMENT OF PAKISTAN RETAIL TAX RETURN CUM PAYMENT CHALLAN FOR ENROLLED RETAILERS PART - I (01) Retail Tax Registration Number ___________________________________ (02) Name & Address _______________________________________________ (03) Tax Period Month ________ Year __________ (04) Opening Balance (Closing Balance of Previous Month) Rs. _________ (05) Sales VALUE (Rs.) | RATE | SALES TAX DUE (Rs.) (Payable) (i) Taxable goods | 2% (ii) Exempt goods (iii) TOTAL: (06) Purchases VALUE (i) Taxable goods | (including sales tax) (ii) Exempt goods (iii) Sales Tax paid on utilities (iv) Other expenditure (v) TOTAL: (07) Closing Balance Rs. ______________________________________ (08) DECLARATION I declare that the above particulars are true and correct. _________________________________________ Signature of authorised person with office stamp (Name and Designation) _____________ Date PART - II (For Bank Use) SALES TAX PAYMENT CHALLAN Sr. No. _________ (09) SALES TAX (A/C HEAD) : 0220000 (10) Amount Paid Rs. ________________ (11) Amount in words: _______________________________________ Dated: _____________________ ________________________ (Treasury/Authorised Bank) with official Stamp [C.No. 1(38)STM|2000-Pt.III] (IFTIKHAR QUTAB) Chief (Sales Tax - II)