08-18-2010, 05:39 PM
YES v can adjust FED VAT Mode @ 16%.
Sec. 6 & 7 of Federal Excise Act 2005 clearly mentions that this adjustment would be made as per provisions of the Sales Tax Act, 1990.
Enforced through amendment in Table II of First Schedule to the Federal Excise Act, 2005, effective from 1st July, 2009.
Sec. 6 & 7 of Federal Excise Act 2005 clearly mentions that this adjustment would be made as per provisions of the Sales Tax Act, 1990.
Enforced through amendment in Table II of First Schedule to the Federal Excise Act, 2005, effective from 1st July, 2009.