ISLAMABAD, Sept 21: The Central Board of Revenue has formally notified the concession of input tax adjustment for five sectors up to September 30, 2005. The decision was made through a sales tax notification SRO992 of 2005 issued here on Wednesday.
According to the notification, no registered person engaged in the export of goods specified below shall, either through zero-rating or otherwise, be entitled to deduct or reclaim input tax paid in respect of stocks of such goods acquired up to June 5, 2005, if not used for the purpose of exports made up to the September 30, 2005, namely: textile and textile articles; leather and articles thereof; carpets; surgical goods; sports goods and inputs of the goods of all these five sectors.
The notification will take effect from the June 6, 2005. For the purpose of any reference or interpretation under this notification, the description and classification of goods specified in notification SRO621 of 2005 issued on June 17, 2005, shall be applicable.
