Updated: Saturday July 10, 2021/AsSabt Thoul Hijjah 01, 1442/Sanivara Asadha 19, 1943, at 06:36:35 PM

The Finance Act, 2021

 

 

 

ISLAMABAD, WEDNESDAY, JUNE 30, 2021

 

 

PART I

 

Acts, Ordinances, President’s Orders and Regulations NATIONAL ASSEMBLY SECRETARIAT

Islamabad, the 30th June, 2021

 

No. F. 22(36)/2021-Legis—The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on the 30th June, 2021 is hereby published for general information:—

 

ACT NO. VIII OF 2021 AN

ACT

 

to give effect to the financial proposals of the Federal Government for the year beginning on the first day of July, 2021, and to amend certain laws

 

WHEREAS it is expedient to make provisions to give effect to the financial proposals of the Federal Government for the year beginning on the first day of July, 2021, and to amend certain laws for the purposes hereinafter appearing;

 

(209)

 


PART I]           THE GAZETTE OF PAKISTAN, EXTRA., JUNE 30, 2021                 209

 

 

[914(2021)/Ex. Gaz.].


Price: Rs. 340.00


 

It is hereby enacted as follows:—

 

1.           Short title and commencement.—(1) This Act shall be called the Finance Act, 2021.

 

(2)  It shall, unless specified otherwise, come into force on the first day of July, 2021.

 

2.           Amendments of Stamp Act, 1899 (II of 1899).—In the Stamp Act, 1899 (II of 1899), the following further amendments shall be made, namely:—

 

(1)        in section 2,—

 

(a)        for clause (11), the following shall be substituted:—

 

“(11) “duly stamped” means affixation of an adhesive or impressed stamp or e-stamp of not less than the requisite amount and that the stamp has been legally affixed, used or electronically generated,”;

 

(b)        after clause (11), amended as aforesaid, the following clause (11A) shall be inserted, namely;

 

“(11A) “e-stamp” means a paper printed or partially printed containing a bar code or having any of its unique identification code and such other information, as may be specified by the rules, to be generated and printed, on deposit of money equivalent to chargeable stamp duty in the account of the Government”;

 

(c)        for clause (13), the following shall be substituted, namely:— “(13)    “impressed stamp” includes—

(a)        the label affixed and impressed by the proper officer;

 

(b)        the stamp embossed or engraved on a stamp paper; and

 

(c)        e­stamp”; and

 

(d)        in clause (14), after the word “recorded”,  the words “and includes any instrument executed in electronic form” shall be inserted.


 

(2)        In section 10,—

 

(a)        in sub-section (1), after the word “stamps”, the words “or e-stamps” shall be inserted; and

 

(b)        in sub-section (2), in clause (a), after the word “stamps”, the words “or e-stamps” shall be inserted.

 

(3)        After  section  32,  the  following  section  32A  shall  be  inserted, namely:—

 

“32A. Certificate of designated officer.—An officer designated by the Government shall, by notification in the official Gazette, issue a certificate as to genuineness or otherwise of an e-stamp for the purpose of evidence in a legal proceedings”.

 

3.           Amendments of Customs Act, 1969 (IV of 1969).—In the Customs Act, 1969 (IV of 1969), the following further amendments shall be made, namely:—

 

(1)        in section 2,—

 

(a)        in clause (kka), for the expression “bill of lading, airway bill”, the expression “master bill of lading, bill of lading, airway bill, certificate of origin” shall be substituted;

 

(b)        after clause (kkb), the following new clause shall be added, namely:—

 

“(kkc) “electronic assessment” means assessment of a goods declaration in Customs Computerized System by an officer of Customs or by the computerized system according to the selectivity criteria;”;

 

(c)        after clause (lc), the following new clause shall be added, namely:—

 

“(ld) “Vessel Intimation Report” or “VIR” means an intimation regarding impending arrival of a vessel at a customs sea port, where the customs computerized system is operational, to the customs authorities in the form and manner, by the carrier or his agent, as may be prescribed by rules;”;and


(d)        in clause (s), after the word “concealing”, the expression “, retailing” shall be inserted;

 

(2)        after section  3CCA,  the  following new  section  shall  be  added, namely:—

 

“3CCB. Directorate General of National Nuclear Detection Architecture.—The Directorate General of National Nuclear Detection Architecture shall consist of a Director General and as many Deputy Director Generals, Directors, Additional Directors, Deputy Directors, Assistant Directors and such other officers as the Board may, by notification in the official Gazette, appoint.”;

 

(3)        after  section 3CCB, the following new  section shall  be added, namely:—

 

“3CCC.  Directorate General of Marine.—The Directorate General of Marine shall consist of a Director General and as many Directors, Additional Directors, Deputy Directors, Assistant Directors and such other officers as the Board may, by notification in the official Gazette, appoint.”;

 

(4)        for section 12, the following shall be substituted, namely:—

 

“12. Power to appoint or licence public warehouses.—(1) At any warehousing station, the respective Collector of Customs in his own jurisdiction may, from time to time, appoint or licence public warehouses wherein dutiable goods may be deposited without payment of customs-duty.

 

(2)        Every application for a licence for a public warehouse shall be made in such form as may be prescribed by the respective Collector of Customs in his own jurisdiction:

 

Provided that where the Customs Computerized System is operational, the application shall be filed to the respective Collector of Customs through the system in the manner as may be prescribed by rules.

 

(3)        A licence granted under this section may be cancelled by the respective Collector of Customs in his own jurisdiction for infringement of any condition laid down in the licence or for any violation of any of the provisions of this Act or any rules made thereunder, after the licensee has been given proper


 

opportunity                                           of    showing  cause   against  the   proposed cancellation.

 

(4)        Pending consideration whether a licence be cancelled under sub-section (3), the respective Collector of Customs in his own jurisdiction may suspend the licence.”;

 

(5)        after section 12, the following new section shall be added, namely:—

 

“12A.   Power to appoint or licence common warehouses.—

(1)   At any warehousing station, the respective Collector of Customs in his own jurisdiction may, from time to time, appoint or licence common warehouses wherein dutiable goods may be deposited without payment of customs-duty on owner or licensee own account.

 

(2)        Every application for a licence for a common warehouse shall be made in such form as may be prescribed by the respective Collector of Customs in his own jurisdiction:

 

Provided that where the Customs Computerized System is operational, the application shall be filed to the respective Collector of Customs through the system in the manner as may be prescribed by rules.

 

(3)        A licence granted under this section may be cancelled by the respective Collector of Customs in his own jurisdiction for infringement of any condition laid down in the licence or for any violation of any of the provisions of this Act or any rules made thereunder, after the licensee has been given proper opportunity of showing cause against the proposed cancellation.

 

(4)        Pending consideration whether a licence be cancelled under sub-section (3), the respective Collector of Customs in his own jurisdiction may suspend the licence.”;

 

(6)        for section 13, the following shall be substituted, namely:—

 

“13. Power to licence private warehouses.—(1) At any warehousing station, the respective Collector of Customs in his own jurisdiction may, from time to time,


licence private warehouses wherein dutiable goods may be deposited without payment of customs-duty.

 

(2)        Every application for a licence for a private warehouse shall be made in such form as may be prescribed by the respective Collector of Customs in his own jurisdiction:

 

Provided that where the Customs Computerized System is operational, the application shall be filed to the respective Collector of Customs through the system in the manner as may be prescribed by rules.

 

(3)        A licence granted under this section may be cancelled by the Collector of Customs in his own jurisdiction for infringement of any condition laid down in the licence or for any violation of any of the provisions of this Act or any rules made thereunder, after the licensee has been given proper opportunity of showing cause against the proposed cancellation.

 

(4)        Pending consideration whether a licence may be cancelled under sub-section (3), the respective Collector of Customs in his own jurisdiction may suspend that licence.”;

 

(7)        in section 18E, for the full stop at the end, a colon shall be substituted and thereafter the following proviso shall be added, namely:—

 

“Provided further that the Board may constitute a committee or a centre for the purpose of settlement of disputes regarding classification of goods and may prescribe rules or procedure for carrying out the purpose of this section.”;

 

(8)        in section 19, in sub-section (5), in the second proviso, for the figure “2021”,  the figure “2022” shall be substituted;

 

(9)        in section 25, in sub-section (9), after the word “determined” occurring for the second time, the words “using reasonable means” shall be inserted.

 

(10)         in section 25A,—

 

(a)        in sub-section (1),—


 

(i)        after the word “section”, the expression “the Collector of Customs on his own motion or” shall be inserted; and

 

(ii)        for the full stop at the end, a colon shall be substituted and thereafter the following proviso shall be added, namely:—

 

“Provided that notwithstanding anything contained in any provision of this Act and any decision or judgment of any forum, authority or court, while determining the customs value under this section, the Director may incorporate values from internationally acclaimed publications, periodicals, bulletins or official websites of manufacturers or indenters of such goods.”;

 

(b)        after sub-section (2), the following new sub-section shall be added, namely:—

 

“(2A) In case of any conflict in the customs value determined under sub-section (1), the Director General of Valuation shall determine the applicable customs value.”; and

 

(c)        in sub-section (4), after the expression “(1)”, the expression “ ,or the case may be under sub-section (2A)” shall be inserted;

 

(11)         in section 25C, for the word “Board”, the words “respective Chief Collector” shall be substituted;

 

(12)         for section 25D, the following shall be substituted, namely:—

 

“25D. Review  of  the  value  determined.—Notwithstanding the provision contained in section 25A, the Director General Valuation may on his own motion or in pursuance to a review petition made to him within thirty days from the date of determination by any person or an officer of Customs may rescind or determine the value afresh:

 

Provided that the proceedings  so  initiated  shall be completed within sixty days of the filing of the review petition or initiation of proceedings as the case may be.”;


(13)         in section 27A, after the word “owner”, the expression “,to be made before the filing of goods declaration,” shall be inserted;

 

(14)         in section 30, for the first proviso, the following shall be substituted, namely:—

 

“Provided that, where a goods declaration has been manifested in advance of the arrival of the conveyance by which the goods have been imported, the relevant date for the purposes of this section shall be the date on which the goods declaration is manifested under section 79 or section 104, as the case may be, except for those goods declaration in respect of which the rate of duty change after the submission of the goods declaration and before the berthing or cross-over event of the vessel or the vehicle respectively, as the case may be, the relevant date in which case, for the purposes of this section, shall be the date on which the vessel has berthed or the vehicle has crossed-over the border, as the case may be.”;

 

(15)         in section-32, in sub-section (3A), in first proviso, for the words “one hundred”, the words “twenty thousand” shall be substituted.

 

(16)         in section 32C, in sub-section (1), for the second proviso, the following shall be substituted, namely:—

 

“Provided further that Board may, by notification in the official Gazette, make rules for carrying out the purposes of this section.”;

 

(17)         for section 44, the following shall be substituted, namely:—

 

“44. Delivery of import manifest in respect of a conveyance other than a vessel.—The person-in-charge of a conveyance other than a vessel shall before arrival or as per following timelines, after arrival thereof at a land customs-station or customs-airport, as the case may be, deliver or file electronically an import manifest to appropriate officer of Customs:

 

(a)        for customs airport: within three hours of landing; and

 

(b)        for land Customs-station: at the time of entry into the country as prescribed under the rules.”;


 

(18)         in section 45,—

 

(a)        in sub-section (2), for the full stop at the end, a colon shall be substituted and thereafter the following proviso shall be added, namely:—

 

“Provided that before the berthing of the vessel or the cross-over of the vehicle, as the case may be, the person incharge of a conveyance or his duly authorized agent may amend the import manifest subject to the rules notified by the Board.”; and

 

(b)        sub-section (3) shall be omitted;

 

(19)         in section 79, in clause (a), the word “and” at the end, shall be omitted and thereafter, the following new clause shall be added, namely:—

 

“(aa) the documents mandatory for assessment of the goods, shall be uploaded by the importer or his agent with the goods declaration, as may be prescribed by the Board; and”;

 

(20)         in section 80, in sub-section (4), for the full stop at the end, a colon shall be substituted and thereafter the following proviso shall be added, namely:—

 

“Provided further that in case of clearance of goods declaration through green channel, the goods may be examined with the prior approval of the Collector of Customs.”;

 

(21)         in section 82, in clause (c), after colon at the end, the following new proviso shall be added, namely:—

 

“Provided that Collector of Customs may direct the importer or in case importer is not traceable, the shipping line to re-export out of Pakistan any goods, banned or restricted through a notification issue by the Federal Government, if the same are not cleared or auctioned within sixty days of the date of their arrival:”;

 

(22)         in section 83B, after the word “to”, the word “outright” shall be inserted;


(23)         in section 88, for sub-section (5), the following shall be substituted, namely:—

 

“(5) If the quantity or value of any goods has been incorrectly stated in the goods declaration, due to inadvertence or bona fide error, the Collector of Customs may, for reasons to be recorded in writing, direct the correction of the said error.”;

 

(24)         in section 98, in sub-section (1), for clause (a), the following shall be substituted, namely:—

 

“(a) by the Collector of Customs, for a period not exceeding six months; and”;

 

(25)         in section 131, in sub-section (2), in the second proviso, the expression “, where Customs Computerized System has not been introduced” shall be omitted;

 

(26)         in section 155F, in clause (c), in the first proviso, for the words “after recording reasons in writing”, the expression “after giving notice and affording reasonable opportunity of being heard,” shall be substituted;

 

(27)         in section 155R, for the full stop at the end, a colon shall be substituted and thereafter the following proviso shall be added, namely:—

 

“Provided that in case where any clerical or typographical error is noted in goods declaration except as provided in section 29 of this Act, the exporter or importer may apply to the concerned officer not below the rank of Assistant Collector for issuance of correction or corrigendum certificate and the concerned officer upon  his  satisfaction may issue such certificate for subsequent correction in the computerized goods declaration.”;

 

(28)         in section 156, in sub-section (1), in the Table, in column zero,—

 

(a)        against S.No.1,—

 

(i)        for sub-serial No.(ii), and entries relating thereto in columns (1), (2) and (3), the following shall be substituted, namely:—


 

 

 

 

 

If any person, as specified in the  rules,  contravenes  the

 

such person shall be liab under: -

le to a penalty as

General

requirement of placement of

 

1st time

Rs 50,000/-

 

invoice    and    packing    list

 

2nd time

Rs 250,000/-

 

inside the import container or

consignment.

 

3rd time and onward for every           recurring violation

Rs 500,000/-

 

 

(ii)        after sub-serial number (ii), amended as aforesaid, the following new serial number and entries thereto in column (1), (2) and (3), shall be inserted, namely:—

 

“(iii)

If any person fails to attach or electronically upload mandatory documents    required     under

such person shall under:-

1st time

be liable to a penalty as

 

Rs.50,000/-     General”;

 

section   79   or   131   of   the

2nd time

Rs.100,000/-

 

 

Customs Act, 1969-,

3rd time

Rs.150,000/-

 

 

 

4th time

Rs.200,000/-

 

 

 

5th  time and onwards,

Rs.250,000/-,

 

 

(b)        S.No. 47A, and entries related thereto in column (1), (2) and (3) shall be omitted;

 

(c)        against S.No.89, in the sub-serial number (i), in column (1), after the word “concealing”, the expression “, retailing” shall be inserted; and

 

(d)        against S.No.90, in column (1), after the word concealing, the expression “, retailing” shall be inserted;

 

(29)         in section 157, in sub-section (2), in the proviso, for the full stop a colon shall be substituted and thereafter the following new proviso shall be added, namely:—

 

“Provided further that where a conveyance found carrying smuggled goods in false cavities or being used exclusively or wholly for transportation of offending goods under clause (s) of section 2 of this Act, has been seized for the third time, no option to pay fine in lieu of the confiscation shall be given.”;

 

(30)         in section 179, in sub-section (3), in the second proviso, for the full stop at the end, a colon shall be substituted and thereafter the following proviso shall be added, namely:—


“Provided further that in cases where in goods are lying at sea-port, airport or dryport, these shall be decided within thirty days of the issuance of show cause notice which can be extended by another fifteen days by Collector of Customs, if required so.”.

 

(31)         in section 195, for marginal note and for sub-section (1), the following shall be substituted, namely:—

 

“195. Powers of Board or Chief Collector or Collector to pass certain orders.—(1) The Board or the Chief Collector or the Collector of Customs may, within his jurisdiction, call for and examine the records of any proceedings under this Act for the purpose of satisfying itself or, as the case may be, himself as to the legality or propriety of any decision or order passed by a subordinate officer:”;

 

(32)         in section 196, in sub-section (1), for the word “Additional”, wherever occurring, the word “Deputy” shall be substituted;

 

(33)         in section 202B, for marginal note   and for sub-section (1), the following shall be substituted, namely:—

 

“202B. Reward to officers and officials of Customs and Law Enforcement Agencies.—(1) In cases  involving evasion of customs-duty and other taxes and confiscation of goods, cash reward shall be sanctioned to the officers of Customs Service of Pakistan, as defined under the Occupational Groups and Services (Probation, Training and Seniority) Rules, 1990 and officials including officers and officials of other law enforcement agencies, who assist Customs officers and officials or are actually instrumental in seizure of smuggled goods and vehicles as confirmed by the respective Collectorate of Customs, for their meritorious conduct in such cases, and to the informer providing credible information leading to such confiscation or detection, as may be prescribed by rules by the Board, only after realization of part or whole of the duty and taxes involved in such cases.”;

 

(34)         in section 212B, in sub-section (5), for the words “one year” , the words “three years” shall be substituted;


 

 

(35)         in the First Schedule,—

 

(i)        in Sub-Chapter-V, in the title, after the word “AREA”, the expression “OR SPECIAL  TECHNOLOGY ZONES (STZ) OR AUTHORIZED UNDER EXPORT FACILITATION SCHEMES,” shall be added; and

 

(ii)        the amendments set out in the First Schedule to this Act shall be made in the First Schedule to the Customs Act, 1969 (IV of 1969); and

 

(36)         the Fifth Schedule to the Customs Act, 1969 (IV of 1969), shall be substituted in the manner provided for in the Second Schedule to this Act.

 

4.           Amendments of the Members of Parliament (Salaries and Allowances) Act, 1974 (XXVII of 1974).—In the Members of Parliament (Salaries and Allowances) Act, 1974 (XXVII of 1974), the following further amendments shall be made, namely:—

 

(1)        In section 10,—

 

(a)        in sub-section (2A),—

 

(i)        after the word “nearest”, the words “or most viable” shall be inserted;

 

(ii)        after the word “Islamabad”, the words “or the equivalent value thereof in travel vouchers.” shall be inserted; and

 

(b)        after sub-section (2A), as amended aforesaid, the following new explanation shall be added;

 

“Explanation.—In this sub-section where the Pakistan International Airlines Corporation (PIAC) does not fly from the concerned member’s constituency, twenty-five business class open return air tickets shall be issued by the PIAC or travel vouchers of equivalent value for issuance of air tickets from another nearest viable Airport. The member may opt for provision of air tickets or travel vouchers.”;

 

(c)        in sub-section (3),—

 

after the expression “sub-section (1)”, the expressions “and (2A)” shall be inserted; and


(d)        in sub-section (4), after the expression “sub-section (1)”, the expression “and (2A)” shall be inserted.”

 

5.           Amendments of the Sales Tax Act, 1990.—In the Sales Tax Act, 1990, the following further amendments shall be made, namely:—

 

(1)        in section 2,—

 

(a)        after clause (4A), the following new clause shall be inserted, namely:—

 

“(4AA) “Commissioner (Appeals)” means Commissioner of Inland Revenue (Appeals) appointed under section 30;”;

 

(b)        in clause (5AB), in sub-clause (d), for the word “three”, the word “ten” shall be substituted;

 

(c)        after clause (18), the following new clause (18A) shall be inserted, namely:—

 

“(18A) “online market place” includes an electronic interface such as a market place, e-commerce platform, portal or similar means which facilitate sale of goods, including third party sale, in any of the following manner, namely:—

 

(a)        by controlling the terms and conditions of the sale;

 

(b)        authorizing the charge to the customers in respect of the payment for the supply; or

 

(c)        ordering or delivering the goods.”;

 

(d)        in   clause   (37),   in   sub-clause  (iii),    after   the   word “falsification”, the word “of” shall be inserted;

 

(e)        in clause (43A),

 

(i)        in sub-clause (e), after the word “more”, the words “or two thousand square feet in area or more in the case of retailer of furniture” shall be inserted;

 

(ii)        after sub-clause (e), the word “and” shall be omitted and thereafter following new clause (f) shall be inserted, namely:—


 

“(f) a retailer who has acquired point of sale for accepting payment through debit or credit cards from banking companies or any other digital payment service provider authorized by State Bank of Pakistan; and”

 

(iii)        existing sub-clause (f) shall be renumbered as (h); and

 

(f)        in clause (44), in sub-clause (a), the words “or the time when any payment is received by the supplier in respect of that supply, whichever is earlier” shall be omitted;

 

(2)        in section 3,—

 

(a)        in sub-section (1B), in clause (a), for the word “on”, occurring for the second time, the word “or” shall be substituted;

 

(b)        in sub-section (9A), first proviso shall be omitted; and

 

(c)        after sub-section (9A), the following new sub-section shall be added, namely:—

 

“(9AA) In respect of goods, specified  in  the  Thirteenth Schedule, the minimum production for a month shall be determined on the basis of a single or more inputs as consumed in the production process as per criterion specified in the Thirteenth Schedule and if minimum production so determined exceeds the actual supplies for the month, such minimum production shall be treated as quantity supplied during the month and the liability to pay tax shall be discharged accordingly.”.

 

(3)        in section 8B,—

 

(a)        in sub-section (1), after the word “person”, the words “other than public limited companies listed on Pakistan Stock Exchange” shall be inserted; and

 

(b)        in sub-section (6), for the expression “15%”, the expression “60%” shall be substituted;”

 

(4)        in section 11, in sub-section (5), for the words “relevant date”, the words “end of the financial year in which the relevant date falls” shall be substituted;


(5)        in section 22, in sub-section (1),—

 

(a)        in clause (e), after the word “bills” occurring for second time, the expression “cash book,” shall be inserted; and

 

(b)        after clause (ea), the following new clause (eb) shall be inserted, namely:—

 

“(eb)    Electronic version of records mentioned in clauses (a) to (ea) of this sub-section.”.

 

(6)        in section 25AA, the existing sub-section shall be renumbered as sub-section (1) and thereafter the following new sub-section (2) shall be added, namely:—

 

“(2) The Board may, by notification in official gazette, prescribe rules for carrying out the purpose of sub-section (1).”;

 

(7)        after omitted section 26A, the following new section 26AB shall be inserted, namely:—

 

“26AB. Extension of time for furnishing returns.—(1) A registered person required to furnish a return under section 26 may apply, in writing, to the Commissioner for an extension of time to furnish the return.

 

(2)        An application under sub-section (1) shall be made by the due date for furnishing the return in terms of section 2(9) for the period to which the application relates.

 

(3)        Where an application has been made under sub-section (1) and the Commissioner is satisfied that the applicant is unable to furnish the return to which the application relates by the due date because of—

 

(a)        absence from Pakistan;

 

(b)        sickness or other misadventure; or

 

(c)        any other reasonable cause,

 

the Commissioner may, by order in writing, grant the applicant an extension of time for furnishing the return.


 

(4)        An extension of time under sub-section (3) shall not exceed fifteen days from the due date for furnishing the return, unless there are exceptional circumstances justifying a longer extension of time:

 

Provided that where the Commissioner has not granted extension for furnishing the return under sub-sections (3) or (4), the Chief Commissioner may on an application made by the registered person for extension or further extension, as the case may be, grant extension or further extension for a period not exceeding fifteen days, unless there are exceptional circumstances justifying a longer extension of time.

 

(5)        An extension or further extension of time granted under sub- sections (3) or (4), as the case may be, shall not, for the purpose of charge of default surcharge under section 34, change the due date for payment of sales tax under section 6.”;

 

(8)        In section 40D, in sub-section (5), after the expression “Gilgit- Baltistan,”, the words “Border Sustenance Markets and” shall be inserted;

 

(9)        after section 40D, the following new section 40E shall be inserted, namely:—

 

“40E. Licensing of brand name.—(1) Manufacturers  of  the specified goods shall be required to obtain brand licence for each brand or stock keeping unit (SKU) in such manner as may be prescribed by the Board.

 

(2) Any specified brand and SKU found to be sold without obtaining a licence from the Board shall be deemed counterfeit goods and liable to outright confiscation and destruction in the prescribed manner and such destruction and confiscation shall be without prejudice to any other penal action which may be taken under this Act.”;

 

(10)         in section 48, after sub-section (2), the following new sub-section

(3) shall be added, namely:—

 

“(3) The provision of sub-sections (1) and (2) shall mutatis mutandis apply regarding assistance in collection and recovery of taxes in pursuance of a request from a foreign jurisdiction  under  a  tax  treaty,  bilateral  or  a  multilateral


convention,  and  inter-governmental  agreement  or  similar agreement or mechanism.”;

 

(11)         in section 50, in sub-section (2), after the word “price”, the words “or may be placed regularly on the official website maintained by the Board” shall be inserted;

 

(12)         in section 56A,—

 

(i)        in  the  title,  after  the  word  “information”,  the  words  “or assistance in recovery of taxes” shall be inserted;

 

(ii)        after sub-section (1), the following new sub-section (1A) shall  be inserted, namely:–

 

“(1A) Notwithstanding anything contained in this Act, the Board shall have power to share data or information including  real  time  data videos,  images   received under the provisions of this Act with  any  other Ministry or Division of the Federal Government or Provincial Government, subject  to  such limitations and conditions an may be specified by the Board.”; and

 

(iii)        after sub-section (2), the following new sub-section (3) shall be added, namely:—

 

“(3) The Federal Government may enter into bilateral or multilateral convention, and inter-governmental agreement or similar agreement or mechanism for assistance in the recovery of taxes.”;

 

(13)         in section 56C, the existing sub-section shall be renumbered as sub-section (1) and thereafter the following new sub-section shall be added, namely:—

 

“(2)  The Board may prescribe procedure for “mystery shopping” in respect of invoices issued by tier-1 retailers integrated with FBR online system randomly and in case of any discrepancy, all the relevant provisions of this Act shall apply accordingly.”;

 

(14)         in section 67, in first proviso at the end for full stop at the end a colon shall be substituted and thereafter the following new proviso shall be added, namely:—


 

“Provided further that where a refund due in the consequence of any order passed under section 66 is not made within forty five days of date of such order, there shall be paid to the claimant in addition to the amount of the refund due to him, a further sum equal to KIBOR per annum of the amount of refund, due from the date of the refund order.”;

 

(15)         in section 73, in sub-section (1), after the first proviso, the following new proviso shall be added, namely:—

 

“Provided further that adjustments made by a registered person in respect of amounts payable and receivable to and from the same party shall be treated as payments satisfying the provisions of this sub-section subject to following conditions, namely:—

 

(a)        sales tax has been charged and paid by both parties under the relevant provisions of this Act and rules prescribed thereunder, wherever applicable; and

 

(b)        the registered person has sought prior approval of the Commissioner before making such adjustments.”;

 

(16)         in section 76, the existing sub-section shall be renumbered as sub- section (1) and thereafter the following new sub-section (2) shall be added, namely:—

 

“(2) The Board may authorize and prescribe the manner in which fee and service charges collected under sub-section (1) shall be expended.”;

 

(17)         in the Third Schedule, in column (1), after serial number 49, the following new serial number 50 and entries relating thereto in columns (2) and (3) shall be added, namely:—

 

“50.

Sugar except where  it  is  supplied as    an    industrial    raw    material to pharmaceutical, beverage and confectionery industries

Respective heading”;

 

(18)         in the Fifth Schedule, in the Table, in column (1),—

 

(a)          Serial No. 1, 6, 10 and 11 and entries relating thereto in column (2) shall be omitted; and


(b)        in the Fifth Schedule, after S. No. 14, in column (1) and entries  relating  thereto  in  column  (2),  the  following  new

S. No. 15 shall be added, namely:—

 

“15.

Local supplies of raw materials, components, parts and plant and machinery to registered exporters authorized under Export Facilitation Scheme, 2021 notified by the Board with such conditions, limitations and restrictions.”;

16.

Milk (PCT heading 04.01).

17.

Fat filled milk excluding that sold in retail packing under a brand name or a trademark (PCT heading 1901.9090).

18.

(i)           Supply, repair or maintenance of any ship which is neither;

(a)          a ship of gross tonnage of less than 15 LDT; nor

(b)          a ship designed or adapted for use for recreation or pleasure.

(ii)         Supply of spare parts and equipment for ships falling under (i) above.

(iii)       Supply of equipment and machinery for salvage or towage services.

(iv)        Supply of equipment and machinery for other services provided for the handling of ships in a port.”

 

(19)         in the Sixth Schedule,—

 

(a)        in Table-1, in column (1),—

 

(i)    Serial No. 22, 24, 26, 27, 29, 29C, 73, 73A, 74, 75, 76,

77, 78, 79, 80, 82, 83, 85, 91, 93, 101, 103, 106, 108,

115, 123, 124, 125, 128 and 153 and entries relating thereto in columns (2) and (3) shall be omitted;

 

(ia) against S. No. 19, for the entry in column (2), the expression “cereals and products of milling industry” shall be substituted;

 

(ii)        against S. No. 133, in columns (2) and (3), the following new entries shall be added, namely:—

 

 

White spirit

2710.1240

 

Solvent oil

2710.1250.”


 

(iii)        in serial No. 137,—

 

(a)        in column (2), after expression “g/m2”, the words “, art paper and printing paper” shall be inserted; and

 

(b)        in column (3), after the figure “4802.5510”, the expression “,4810.1990, 4810.1910 and 4802.6990” shall be inserted;

 

(iv)        after serial No. 156 and entries relating thereto in columns (2) and (3), the following new serial Nos. shall be added, namely:—

 

“157.

Import of CKD (in kit form) of following electric vehicles (4 wheelers) by local manufacturers till 30th June, 2026:

(i)         Small cars/SUVs with 50 Kwh battery or below; and

(ii)        Light  commercial  vehicles  (LCVs)  with 150 kwh battery or below

Respective headings

158.

Goods temporarily imported into Pakistan by International Athletes which shall be subsequently taken by them within 120 days of temporary import

Respective headings

159.

Import of auto disable Syringes till 30th  June, 2021

(i)         with needles

(ii)        without needles

 

 

9018.3110

9018.3120

160.

Import of following raw materials for the manufacturers of auto disable syringes till 30th June, 2021

(i)        Tubular metal needles

(ii)       Rubber Gaskets

 

 

 

9018.3200

4016.9310

161.

Import of plant, machinery, equipment and raw materials for consumption of these items within Special Technology Zone by the Special Technology Zone Authority, zone developers and zone enterprises

Respective headings

162.

Import of raw materials, components, parts and plant and machinery by registered persons authorized under Export Facilitation Scheme, 2021 notified by the Board with such conditions, limitations and restrictions.”;

Respective headings

 

(b)        in Table-2, in column (1),—

 

(i)        serial Nos. 17, 18, 19, 20, 24 and 25 and entries relating thereto in columns (2) and (3) shall be omitted;


(ii)        after serial number 25, the following new serial numbers and entries relating thereto in columns (2) and (3) shall be added, namely:—

 

“26.

Supply   of   locally   produced   silos   till 30.06.2026

Respective heading