08-06-2009, 03:29 PM
(3) A withholding agent, including a person registered in a Large Taxpayers Unit and a recipient of advertisement services, who purchases goods and services from unregistered person, shall deduct sales tax at the applicable rate of the value of taxable supplies made to him from the payment due to the supplier
Provided that a person registered in a Large Taxpayers Unit shall be entitled to adjustment of sales tax so deducted by him from the output tax due, subject to the conditions specified in sections 7, 8, 8B and 73 of the Sales Tax Act, 1990, and the rules made thereunder.
The above referes to a part of the SRO. Does it mean that any withholding agent who cannot adjust the sales tax will not deduct the sales tax? Please reply urgently
Provided that a person registered in a Large Taxpayers Unit shall be entitled to adjustment of sales tax so deducted by him from the output tax due, subject to the conditions specified in sections 7, 8, 8B and 73 of the Sales Tax Act, 1990, and the rules made thereunder.
The above referes to a part of the SRO. Does it mean that any withholding agent who cannot adjust the sales tax will not deduct the sales tax? Please reply urgently
