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Text of (CENTRAL EXCISE) SRO No 475

GOVERNMENT OF PAKISTAN
Revenue Division,
Central Board of Revenue
(Central Excise Wing)

C.No 1(1)-CEB/04 Islamabad, the 13th June, 2009

NOTIFICATION
(CENTRAL EXCISE)


SRO 475(I)/2009: In exercise of the powers conferred by sub-section (3) of section 6, sub-section (5) of section 12 and section 40 of the Federal Excise Act, 2005, the Federal Board of Revenue is pleased to direct that the following further amendments shall be made in the Federal Excise Rules, 2005, namely:--

IN THE AFORESAID RULES,-

(1) in rule 2,-

(a) after clause (o), the following new clause shall be inserted, namely:-

"(oa) "Port Operator" includes Karachi Port Trust (KPT) or any other person or organisation managing the operations of any customs-port as declared under section 9 of the Customs Act, 1969 (IV of 1969);";

(b) clause (oa), shall be re-lettered as clause (ob);

(c) clause (ob), shall be re-lettered as clause (oc);

(d) after clause (p), the following new clause shall be added, namely,-

"(q) "Terminal Operator" includes Karachi International Container Terminal (KICT), Pakistan International Container Terminal (PICT) and Qasim International Container Terminal (QICT);";

(2) in rule 40, in sub-rule (1), after the words "life insurance", the words and commas "health insurance, crop insurance and marine insurance for export" shall be inserted;

(3) in rule 40A,-

(a) in the marginal heading, the word "non-fund" shall be omitted;

(b) in sub-rule (2),-

(i) the word "non-fund" shall be omitted;

(ii) for the words "and cheque return", the words and commas ", cheque return, Musharika and Modaraba Financing" shall be substituted; and

(c) in sub-rule (4), after the word "customers", the words and comma ", excluding mark-up or interest" shall be inserted;

(4) in rule 43, in sub-rule (4),-

(a) for the word "Forms", the word "Form shall be substituted; and

(b) for the Form-I, Form-II and Form-III, the following shall be substituted, namely:--

"FORM

MONTHLY STATEMENT FOR TELECOM SERVICES

RENDERED BY M/S. __________________

DURING THE TAX PERIOD _____________





=====================================================================

S.No Description Value Federal Excise Duty

/Sales tax paid

=====================================================================

1. Pre-paid mobile services (cards sold /

easyload / top-up etc).

2. Post-paid mobile service.

3. Activation charges.

4. SMS

Nos. ______________

5. Other telecom services provided.

6. Other taxable services/ supplies.

7. Input Tax adjustable.

8. Net FED/ Sales Tax paid on the return. ";

=====================================================================



(5) after rule 43A, the following new rules shall be inserted, namely:-

"43B. Special procedure for services provided Port Operator and Terminal Operator in relation to imports.- (1) All import related services provided by a Port Operator and Terminal Operator, shall be leviable to duty, namely:-

(i) Piloting and mooring;

(ii) delivery charges;

(iii) storage in port area including demurrage;

(iv) wharfage; and

(v) other import related services provided in port area.

(2) Value of excisable services for the purpose of levy of duty shall be the gross amount charged for the services.

(3) The Port Operator and Terminal Operator shall maintain such records as stipulated in section 17 of the Act in such manner as will enable distinct ascertainment of payment of duty due.

43C. Special procedure for services provided by stockbrokers.- (1) Value of excisable services for the purpose of levy of duty shall be the gross commission charged from clients in respect of purchase or sale of shares in a Stock Exchange.

(2) The Stock brokers shall maintain records as stipulated in section 17 of the Act in such manner as will enable distinct ascertainment of payment of duty due.";

(6) for the Annex referred to in sub-rule (6A) of rule 40A, the following shall be substituted, namely:--

"ANNEX

[See rule 40A(6A)]

Quarterly reconciliation of Federal Excise Services provided by the Banking & Non-Banking Financial Companies under rule 40A of the Federal Excise Rules, 2005.

Name of the Bank / Non-Banking Financial Companies

__________________________________

Federal Excise Registration No Quarter ended

_____________ ______________





======================================================================

S No Particulars of service Value of Services as per Return (in Rs)

======================================================================

Month 1 Month 2 Month 3 Total

======================================================================



(a) L/C commission;

(b) guarantee commission;

(c) brokerage commission;

issuance of pay order and demand

(d) drafts;

(e) Bill of exchange charge; transfer of money including

(f) telegraphic transfer, mail transfer and electronic transfer;

(g) providing bank guarantees;

(h) Bill discounting commission;

(i) safe deposit lockers fee;

(j) safe vaults;

(k) credit and debit card issuance, processing, operation charges; and

(l) commission and brokerage on foreign exchange dealings;

(m) advances & loans

(n) financial Leasing

(o) commodity or equipment leasing

(p) hire-purchase leasing

(q) other leasing

(r) Services provided as a banker to an issue

(s) Others.

Total:





======================================================================

====================================================================

RECONCILIATION (in Rs)

====================================================================

Value of FED Input tax Net FED

Services paid@ adjustment paid

as above 16% claimed

====================================================================

Month 1

Month 2

Month 3

====================================================================

Total:

====================================================================

Amount of Services as per published accounts:

________________________

Difference if any: -

________________________ ".

====================================================================



2. This notification shall take effect on and from the 1st July, 2009.

(Munir Qureshi)

Member (Direct Taxes)

Additional Secretary.

[C. No 1(2)FED/2007 Pt]

Copyright Business Recorder, 2009


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