Adjustment of Input Sales Tax

[Marium Khan]

Which input tax should we consider in order to claim Sales tax Refund from FBR?

Can anyone explain?

[Information Consultant]

Who are elegible for Sales tax refund
1. Exporter
2. Zero rate Sector (Textile,Chemical,Leather etc)
both the above mentioned sector can claim refund on their
Purchase invoices which include sales tax
KESC Bills sirf un bills ka input claim hoga jinka consumer no AP BL ,AL consumer no walay bill ka input claim nahi hoga
SuiGas Bills kay bill per jo sales tax lagta hay uska bhi refund claim hoga
Utility kay dono bills per GST no hona chaya company ka
jis input ka bhi ap refund claim karrhay hain wo sales tax return may properly reflect honay chaian.

[LapTop]

“input tax”, in relation to a registered person, means—
(a) tax levied under this Act on supply of goods to the person;
(b) tax levied under this Act on the import of goods by the person;
(c) in relation to goods or services acquired by the person, tax levied under the Federal Excise Act, 2005 in sales tax mode as a duty of excise on the manufacture or production of the goods, or the rendering or providing of the services;
(d) Provincial sales tax levied on services rendered or provided to the person; and
(e) levied under the Sales Tax Act, 1990 as adapted in the State of Azad Jammu and Kashmir, on the supply of goods received by the person;

<b>8. Tax credit not allowed.— </b>
(1) Notwithstanding anything contained in this Act, a registered person shall not be entitled to reclaim or deduct input tax paid on --
(a) the goods or services used or to be used for any purpose other than for taxable supplies made or to be made by him;
(b) any other goods or services which the Federal Government may, by a notification in the official Gazette, specify;
(c) the goods under sub-section (5) of section 3
(ca) the goods or services in respect of which sales tax has not been deposited in the Government treasury by the respective supplier;
(d) fake invoices; and
(e) purchases made by such registered person, in case he fails to furnish the information required by the Board through a notification issued under sub-section (5) of section 26.

(2) If a registered person deals in taxable and non-taxable supplies, he can reclaim only such proportion of the input tax as is attributable to taxable supplies in such manner as may be specified by the Board.
(3) No person other than a registered person shall make any deduction or reclaim input tax in respect of taxable supplies made or to be made by him.
(5) Notwithstanding anything contained in any other law for the time being in force or any decision of any Court, for the purposes of this section, no input tax credit shall be allowed to the persons who paid fixed tax under any provisions of this Act as it existed at any time prior to the first day of December, 1998.
(6) Notwithstanding anything contained in any other law for the time being in force or any provision of this Act, the Federal Government may, by notification in the official Gazette, specify any goods or class of goods which a registered person cannot supply to any person who is not registered under this Act.

[Marium Khan]

Thnx 4 ur reply

[Information Consultant]

If u r involved in ur company refund process feel free to ask refund procedure

[Marium Khan]

If stock damages due to fire,then how can we dajust the difference between Input & Output Tax if;

It is insured,or Not insured?

[Marium Khan]

Who are eligible to claim 90% of input tax or are not?

[LapTop]

<b>Registered persons specified below shall be excluded from the purview of the said sub-section (1) of section 8B–</b>

1- Persons registered in electrical energy sector.

2- Oil marketing companies and petroleum refineries.

3- Fertilizers manufacturers.

4-Manufacturers consuming raw materials chargeable to sales tax at the rate of 18.5% or 21% provided value of such raw materials exceeds 50% of value of all taxable purchases in a tax period.

5- Wholesalers-cum-retailers operating in Chapter XII of the Sales Tax Special Procedures Rules, 2007.

6- Commercial importers provided the value of imports subjected to 2% value addition tax under Chapter X of the Sales Tax Special Procedures Rules, 2007, exceeds 50% of value of all taxable purchases in a tax period.

7- Person making zero-rated supplies provided value of such supplies exceeds 50% of value of all taxable supplies in a tax period.

8- Distributors and wholesalers.

9- Gas distribution companies.

10- Solvent extracting units of edible oils.

11- Telecommunication Services

12- Pakistan Steel, Bin Qasim, Karachi

[Marium Khan]

What abt tax adjustment for stock?

[LapTop]

sawal kuch samajh nahi aaya ji, thora tafseel say bayyan karyn,

[Marium Khan]

Laptop agar stock destroy hota hai to debit credit notes kon issue kry ga?

[nomanejaz2009]

sales tax mien registered hone k liye aap ki total sales kitni honi chahiye.

[Sarfaraz Khan]

stock agar destroy hota hai to us k liye commissioner sahab khud visit karaiin gai stock ko den he will issue Debit note.
and if u sale these as a scrap, then u will also adjust it with ur iput tax.

[Marium Khan]

5 million or above

[Marium Khan]

ok