10-21-2010, 02:32 AM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Omeir</i>
<br />(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
<font color="red"><b>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.</b></font id="red">
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
is the part highlighted in Red still applicable or has it been withdrawn?
if applicable, then my question is this
what is being talked here is that an LTU person should deduct sales tax FROM payment made BY him.......but in provisio it is said that the LTU will be entitled to adjustment of this tax from his output tax...how is it possible that a person is deducting a tax from someone else and then claiming it as an adjustment from his own output?
<br />(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
<font color="red"><b>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.</b></font id="red">
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
is the part highlighted in Red still applicable or has it been withdrawn?
if applicable, then my question is this
what is being talked here is that an LTU person should deduct sales tax FROM payment made BY him.......but in provisio it is said that the LTU will be entitled to adjustment of this tax from his output tax...how is it possible that a person is deducting a tax from someone else and then claiming it as an adjustment from his own output?
