After a complete overview of Income Tax Card Rate, now we see sale tax rate. Before we discuss the scope of sale tax, first we’ll see the determination of Sales Tax liability.
Determination of Sale Tax:
- Input tax / Output tax (in a tax period).
INPUT TAX:
Input tax is the tax paid by a registered person on the taxable goods and services purchased or acquired by him. This also includes the sales tax paid on imports.
OUTPUT TAX:
It is the sales tax charged and levied on the sale or supply of goods or services on which sales tax is leviable.
2. Payable or Carry Forward.
3. Adjustable input tax [Section 8B]
8B applicable on the following categories:
I. Manufacturer
II. Wholesaler
III. Retailer
8B non-applicable on the following categories:
I. Commercial Importer
II. Distributor
III. Exporter
Scope of Sale Tax:
| Sr.# | Description | Taxability |
|---|---|---|
| 1. | Tax on Goods | i. All Goods are Taxable |
| ii. Sales Tax @ 17% | ||
| iii. Exemption specified | ||
| iv. Specified Reduce Rates | ||
| v. Specified Zero Rates | ||
| vi. Taxable supplies made in the course or furtherance of any taxable activity | ||
| 2. | Tax on Services | i. Taxable Service |
| ii. Person liable to pay tax | ||
| iii. Application of principal of origin and reverse charge in certain situations | ||
| 3. | Tax on Services at the rate specified in 2nd schedule | Punjab = 16% Sindh = 13% KPK = 15% Baluchistan = 15% |
VAT:
1. Responsibilities of Registered Person:
i. Collect tax
ii. Deposit tax
iii. Record/Dealing with tax dept.
2. Multistage Collection:
i. Manufacturer is collecting tax
ii. Wholesaler is collecting tax
iii. Retailer is collecting tax
iv. Registered person is paying value addition tax
3. Concept of VAT:
Output – Input = Payable
FURTHER TAX:
Where taxable supplies are made to a person who has not obtained registration number, there shall be charged, levied and paid a further tax at the rate of 3% of the value in addition to the rate specified in sub-section (1), (1B), (2), (5), (6) and section 4
EXTRA TAX:
Special procedure for payment of extra sales tax on specified goods.
Vehicle Tax:
Purchase of New Car / Jeep
Note: New vehicle token tax and income tax will be updated after FBR notification.
| Purchase of New Car/Jeep Section 231-B | |||
| Sr.# | Engine capacity | Filer | Non-Filer |
| Engine capacity upto 850CC | |||
| more than 851CC and less than 1,000CC | |||
| more than 1,001CC and less than 1,300CC | |||
| more than 1,301CC and less than 1,600CC | |||
| more than 1,601CC and less than 1,800CC | |||
| more than 1,801CC and less than 2,000CC | |||
| more than 2,001CC and less than 2,500CC | |||
| more than 2,501CC and less than 3,000CC | |||
| Engine capacity more than 3,000CC | |||
| Advance tax on transfer of private motor car/jeep | |||
| Sr.# | Engine capacity | Filer | Non-Filer |
| Engine capacity upto 850CC | |||
| more than 851CC and less than 1,000CC | |||
| more than 1,001CC and less than 1,300CC | |||
| more than 1,301CC and less than 1,600CC | |||
| more than 1,601CC and less than 1,800CC | |||
| more than 1,801CC and less than 2,000CC | |||
| more than 2,001CC and less than 2,500CC | |||
| more than 2,501CC and less than 3,000CC | |||
| Engine capacity more than 3,000CC | |||
WHT Card Rate:
paypaktax has four years of WHT card rates:
1. WHT Card Rate FY 2017-2018
2. WHT Card Rate FY 2018-2019
3. WHT Card Rate FY 2019-2020 and
4. WHT Card Rate FY 2020-2021).
Note: Here uploaded only WHT card rate of FY 2019-2020. The remaining WHT card rate will be provided on-demand. email us: paypaktax@gmail.com
Tax Calculator:
Calculate your annual Income-tax payable accurately with tax calculator. Just enter Income details and other details to calculate the tax liability of the financial year.