3rd Schedule: Products & services

Reference	Rate	Products/Services
3rd Schedule, Paragraph-3	2%	Petroleum, Land Development,  Building construction organization up to 1-1,600 sq. feet, Re-registration (Other than first time sale)
3rd Schedule, Paragraph-3	2.4%	Medicine at Local Trading
3rd Schedule, Paragraph-3	4.5%	Over 1,601 sq. feet Building Registration
3rd Schedule, Table-1,Part-A	5%	Goods: Powder Milk, Crushed Spices, Mustard Oil, Biscuit, Ketchup, Juice, LPG Gas, Tableware, Kitchenware, Printing paper, exercise Book, wastage, CR coil, Transformer, Energy Savings bulb,
3rd Schedule, Table-1,Part-B		Services: Internet, Indenting, Furniture selling at showroom, Electricity distributor, English medium school, Information Technology enabled services, Online sales of goods. Non-Ac Restaurant.
3rd Schedule on used-3		All goods at local trading stage
3rd Schedule, Table-2,Part-A	7.5%	Goods: Self Paper, Board, Packing/simplex/Colored paper
3rd Schedule, Table-2,Part-B		Services: Non-Ac Hotel , Construction establishment, Furniture Producer, Procurement Provider, Garments
3rd Schedule, Table-3,Part-A	10%	Goods: Electric Pole
3rd Schedule, Table-3,Part-B		Services: Motor Car Garage, Dockyard, Printing Press, Mechanical Laundry, Security Service, Transport Contractor, Attendee of Board meeting, Tailoring Shop, Building, Floor & Premises Cleaning or Maintenance establishment, Social and game Club, AC-Restaurant.
3rd Schedule, Table-4,Part-A	Specific amount	Newsprint (MT), Cotton (kg), Bricks(k), Scrap/Ship Scrap (MT), MS Products (MT)
3rd Schedule, Table-4,Part-B	Specific amount	SIM Card

 

Finance Bill, Finance Act, & SRO

 

Title	Description	Remarks
Finance Bill	1st Schedule, 2nd Schedule, 3rd Schedule	Budget Declaration Date
Finance Act	Changes of Law	Effective from 1st July
SRO	Changes of VAT Rule 2016	Effective from the date of issuance if otherwise indicated.

Beauty of VAT and SD Act 2012 & Rule 2016.

 

Chap.	Title	Section	Rule	Title	Related Form
01	Preliminary	1-3	1-2	Preliminary
02	VAT Registration and Turnover Tax enlistment	4-14	3-15	VAT Registration & Enlistment under Turnover Tax	2.1 to 2.5
03	Imposition of VAT	15-26	16-18A	Imposition of VAT: VAT Agent, Travel agent & Tour operator	3.1, 3.2, 3.3
04	Manner of VAT Collection	27-44	19-24	Value Added Tax Collection Method	4.1, 4.2, 4.3, 4.4, 4.5
05	Assessment of Net payable tax by the Tax payer & Payment	45-50	25-39	Determination and payment procedure of net tax by the tax payer, tax deducted at source and adjustment
06	Tax Invoice and other Documents	51-54	40-44	Accounting for Value added tax and Turnover Tax	6.1, 6.2, 6.2.1, 6.3, 6.4, 6.5, 6.6, 6.7, 6.7, 6.8, 6.9, 6.10
07	Imposition and Collection of Supplementary Duty	55-62	45	Adjustment of Supplementary Duty	7.1
08	Imposition and Collection of Turnover Tax	55-63	46	Adjustment of Turnover Tax
09	Filling of Return and Amendments thereof		47-51	Submission of Return and Correction	9.1, 9.2, 9.3, 9.4
10	Carry Forward and Negative  net amount and Refund	69-72	52-57	Brought forward and Refund Negative Net amount	10.1, 10.2, 10.3
11	Tax Determination by the Commissioner	73-77	57A-58	Tax Determination by the Commissioner : Negative of Tax advantage	11.1, 11.2
12	Value Added Tax Authority	78-89A	59-65	Value Added Tax Authority	12.1, 12.2, 12.3, 12.4, 12.5, 12.6, 12.7, 12.8, 12.9, 12.10, 12.11, 12.12, 12.13
13	Audit & Investigation	90-94	66-67	Audit & Investigation	12.1, 13.2, 13.3
14	Recovery & Arrear tax	95-106	68-94	Realization of outstanding  Taxes	14.1, 14.2, 14.3, 14.4, 14.5, 14.6, 14.7, 14.8, 14.9, 14.10, 14.11, 14.12, 14.13, 14.14
15	Maintenance of Forms, Notices and Records	107-110	95	Forms, Notices and Preservation of Records
16	Offence Trail and Punishment	111-120	96-97	Offence, Trail and Punishment	16.1, 16.2
17	Appeals & Revisions	121-125	98-108	Appeal & Revision	17.1, 17.2, 17.3
18	Miscellaneous	126-139	109-119	Miscellaneous	18.1, 18KA, 18.2, 18.3, 18.4, 18.5, 18.6