ISLAMABAD (August 07 2003) : The audit of public limited companies whose registered premises and manufacturing premises are situated in the jurisdiction of different Collectorates would be conducted by the Collectorate where the manufacturing premises are located, says a notification issued here on Wednesday.
Under the amended 'Registration, voluntary registration and de-registration rules', in case of listed public limited companies whose registered premises and manufacturing premises are situated in different Collectorates, audit under section 25 and section 38 read with section 40A of the Sales Tax Act, may also be carried out by the Collectorate in whose jurisdiction the manufacturing premises are located.
Section 25 deals with the sales tax officials' access to record/documents; section 38 empowers such officials to have access to premises, stocks, accounts and record; and section 40 authorises the Assistant Collector to conduct search without warrant.
Following is the text of the SRO issued here on Wednesday:
In exercise of the powers conferred by section 50 of the Sales Tax Act, 1990, read with sections 15, 17, 21 and 28 thereof, the Central Board of Revenue is pleased to direct that the following further amendments shall be made in the Registration, Voluntary Registration and De-Registration Rules, 1996, namely:-
In the aforesaid Rules, in rule 3, sub-rule (1), in the Explanation, in clause (a)
(1) for the semicolon and word “;and” at the end, a colon shall be substituted; and
(2) after clause (a), amended as aforesaid, the following proviso shall be added, namely:
“Provided that in case of such listed public limited companies whose registered premises and manufacturing premises are situated in different Collectorates, audit under section 25 and section 38 read with section 40A of the Act, may also be carried out by the Collectorate where the manufacturing premises are located;”.
