June 29, 2008	Sunday	Jamadi-us-Sani 24, 1429

ISLAMABAD, June 28: The Federal Board of Revenue (FBR) has allowed the usage of existing packing material and stock printed with a sales tax of 15 per cent, for three months.

A sales tax general order No. 22 of 2008, issued here Friday declared that the facility would be effective from July 1, with the prescribed conditions.

The manufacturer shall inform the collector of sales tax that has the jurisdiction, about the stocks in hand at June 30, 2008, with a full description of the quantity on which sales tax is printed at the rate of 15 per cent

The sales tax, in respect of supplies of such stocks, shall be paid at the rate of 16 per cent with effect from July 1, 2008. The manufacturer shall advertise the retail price plus sales tax at the rate of 16 per cent and the total consumer price of such goods in the leading daily newspapers and other newspapers in regional languages at least once a week, till such time as these stocks are supplied. This permission shall not apply to cases where actual retail price, excluding sales tax, is different from the one printed.

After the amendments in the Sales Tax Act of 1990, through the Finance Act of 2008, the applicable rate of sales tax on items in the Third Schedule of the Sales Tax Act of 1990, has been increased to 16 per cent with effect from July 1, 2008 through the Finance Bill of 2008.

The manufacturers of items specified in the Third Schedule to the Sales Tax Act of 1990, have reported difficulties in printing sales tax at the rate of 16 percent of retail price on their existing stocks, which have already been printed with sales tax at the rate of 15 per cent of the retail price.