Withholding of Sale tax on Supplies | Who will deduct Sale tax | Companies | Other then Company
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- Опубликовано: 18 сен 2024
- • SALE TAX AND INCOME TA...
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Anyone interested to learn Pakistan taxation including E-Filing of both sale tax and income tax please WhatsApp or call at 03007574731.
Income tax Includes
1. Section-149 Income from Salary
2. Section-155 Income from Property
3. Section-153 Payment of goods, service and contract
4. Section-147 Advance income tax
5. Section-148 Import
6. Section-231A Advance tax on cash with drawl
7. Section-231AA and 236P Advance tax on certain banking transection
8. Section-231B Advance tax at the time of registration of private motor vehicle
9. Section-235A Tax collection from domestic electric bills
10. Section-236 Tax collection from telephone users
11. Section-236B Advance tax on purchase of domestic air ticket
12. Section-236D advance tax on function and gathering
13. Section-236F Advance tax on cable operator and other electronic media
14. Section-236G Advance tax on sale to distributor, dealer and wholesalers
15. Section-236H Advance tax on sale to retailers
16. Section-236I Advance tax by educational institutions
17. Section-236U Advance tax on insurance premium
18. Section-236X Advance tax on Tobacco
19. Section-236Y Advance tax on remittance abroad through credit, debit or prepaid cards
20. Fine and penalties
21. Section-177 Audit
22. Treatment of provision for bad and doubtful debts
Sale Tax Includes
1. What is sale tax or indirect tax and concept of VAT
2. Difference between Input and Output tax
3. Further tax and extra tax
4. Calculation of Sale tax
5. Advance sale tax
6. Withholding Sale tax
7. Debit and credit notes
8. Admissible credit
9. Annexure A, B, C, F,H, J and I with practical example
10. Supply and purchase register
11. Stock or consumption sheet
12. Concept of Punjab Revenue Authority (PRA) and Sindh Revenue Authority (SRB)
E-Filing
1. Monthly sale tax return
2. Withholding Statement
3. Reconciliation of sale tax return
4. Reconciliation of wealth
5. Annual income tax return of Salary Individual
6. Annual income tax return of Company
7. Annual income tax return of Business Individual / Retailer or Trader
8. Annual income tax return of AOP
All above section will be cover with practical example and online filing.
#saletaxwithholding#FBR#
Regards,
Faheem Mehboob
ACCA Member
03007574731
Very informative
Jazak Allah
MashAllah nice job
Excellent Video Faheem Bhai. Thank You 💝
Jazak Allah
excellent work brother
God bless u
Jazak Allah
Kindly make video on ( Explain all tabs on iris account and purposes of all tabs) .
Ok, in future one by one I will update
AOA.PLZ UPLOAD VIDEO ABOUT
ABOUT GETTING FIRM-C FROM REGISTRAR OF FIRM (AOP)
Ok, later I will.update
Sir plz tell me about credit note, how we can enter credit note of unregistered customer in fbr.
It is already stored by FBR. Check lecture availability on channel
@@faheempracticallearning sir plz share the link
@@everything_inside6335 ruclips.net/video/D4uZaHT5_dA/видео.html
@Faheem Practical Learning House! We imported Cell phone in April 2022. At the time import, Custom Department disagree with our declared value and they had charged 17% on their own Valued amount. We sell in the market at less price which result less sales tax out put adjustment with input sales tax. Now we don't any quantity on hand from that import but sale tax on that import still is showing as a adjustable. Can we adjust it with future sales? Please advise.....thanks
Faheem Bhai.
Ek invoice se example hai jis per sales tax and with holding tax payment deduction k bad net payment kin Hoge ?
not get your point explain again
سر ایف ٹی این ہولڈرز گورنمنٹ ڈیپارٹمنٹس ہر صورت میں سیلز ٹیکس ود ہیلڈ کریں گے. اس بات سے استنی کہ سپلائرز ایک. ایکٹیو ٹیکس پییر بھی ہے سیلز ٹیکس میں
Yes mentioned in rules, but Government departments deducted as per old rules
If a cottage industry sells its good to a big tier 1 retailer (like Imtiaz) in bulk so we wont be charging sales tax to retailer. Now when the retailer sells it to end consumer, do retailer need to charge sales tax from end consumer?
Yes
@@faheempracticallearning thanks for the reply
I just learned retailer will also withhold 5% from such unregistered businesses, now since the cottage industry is already exempted, can we claim this 5% later somehow from government?
If we already paid sale tax in our sale tax return then how can we adjust our sale tax withheld from customer.
What action can be taken if the other party is not uploading invoices on their Sales Tax portal?
Inform them guide them, in the end stop their payment if your vendor,
Witholding exclusion kes section main mentioned hy.?
Mentioned in withholding rules, and exemption
Gross value of supplies ke interpretation mil skte h kahe kisi section because there is ambiguity
Gross value already included tax
Kindly let me know how to identify the category of withholding Tax I mean adjustible and final
Adjustable and final not link with sale tax. This is sale tax lecture.
Check income tax lecture already available on channel
Hello,
Can u please share reference of law / rule / circular of FBR where withholding of sales tax @5% from gross value of supplies on purchases made from unregistered person has been explained via example.
As per my understanding : 100,000/1.05*.05= 4,762
As per the concept explained in this video withholding of sales tax : 100,000/1.17*.05 = 4,273
Which one is correct ? also please share some reference.
Regards
Pls check withholding sale tax rules words used gross amount, unregister suppliers always make invoices on gross amount, gross means inclusive of sale tax, we just deduct 5% on that value, conceptual approach
Mentioned in lecture follow same
@@faheempracticallearning Thank u.
Aoa
Faheem mera kaam printing material supplies hai aur filer hon pichle 8 saalon se but kafi companies mera 4.5 income tax plus 5% w/h kaat lete hain. Aur kuch customer nahe kat te siwai 4.5% kay ilawa mukhe ye bataen 5% wh bachame kay liye kya karna parega?
Respected sir,
please guide,
income tax deduction apply on K-Electric(pvt)ltd electricity bill? if not so why?
No as per rules it is exempt check exemption rules
NGO/NPO not sell product they provide welfare service so "law" can not bound to NGO/NPO for registration in sales tax.
therefore, NGO/NPO can not be active in sales tax return but they are withholding sales tax agent in this case sales tax will be deducted either purchaser active in income tax as well in sale tax
is it right?
Yes
Kindly make video on double entry bhai❤️
Ok already have
Mashallah
Sir ager NGO strn me Register nahi he to Kya wo NGO withholding agent hogi ya nahi?
Will every Public and Pvt limited be the Sales Tax Withholding agent?
Yes. Same mentioned in lecture
PVT company by default withholding agent
Aoa sir.new portal mei ye 1/5th withholding sales tax Kesy claim ho ga?
Till now this option not available, wait for next update from FBR sides
Where this rule is written?
In sale tax act
Sir you means if both parties are active than no withholding and our client pay us full amount on services?
This rules is for supply not service
Sir please make video also for services Sales Tax
Sir Services ki invoice per kya withholding ho GI if both are registered and active?
@@usmanjee9416 yes
Sir kindly update regarding production house (media advertisement) SRB Return submission. Because media agency withhold 100% SST amount against withholding agent and provide us CPR # & not uploading the withhold amount in own SST return,
Then how to claim we are our sst amount 💯% in SRB return. JazakAllah
Just to report this CPR in your monthly sale tax return
Use invoice type STWH
@@faheempracticallearning yes sir, I know this but agency withhold 100% SST amount, & portal allowed only 20% SST amount.
@@AbrarKhan-to6np 100% you can report even on portal check again
If a supplier is a person other than active tax payer in sale tax,rate or extent of deduction is 5% of gross value of supplies (kindly tell me if a invoice amount is 48547 the how much withholding sale tax is to be calculated?
Already explained in lecture pls check, if still some issue inform I will explain
I understand what you explain but in our company the tax manager only deduct 5% on the whole invoice amount .I explained him but he deny that’s why I messaged in this forum for his confirmation.
@@rabianaz1478 same mentioned in lecture if goods purchased from unregistered person then 5% if buyer and seller both have STRN # and also active then no deduction. Check withholding rules in sale tax act cleared mentioned. You can ask him to show the document.
Sir 1/5 according to 11th sechedule khatam ho gya?
Yes, if both parties registered in sale tax and also active taxpayer. But in case of Government bodies still it is applicable
Sir Lekin 11th schedule me tu likhaha he active taxpayer pe bhi 1/5 or 1/10 Hoga ap keh rhe han k agar donor register han tu sales tax withheld nhi Hoga.
If both active no withholding
Check rules again
@@faheempracticallearning sir apko what's app Kiya he
0300-7574731
As salam o alikum! Is withholding tax applicable on purchase of cell phones for staff?
Assalamuallaikum faheem Bhai kia Hal hai faheem Bhai ma tender Karta hn govt.departments ma kai Martaba Aisa hora hai k payment 2 month b late ho jati hai magar bill ka hisab sa haman har month apni sales tax return jama karwani hoti hai magar jab hum puri return jama karwa deta hain us ka bd payment hoti hai r aksar department us ma sa b 1/5 GST deduct kr k payment data hain jb k hum tu payment sa pahle hi puri return jama karwa Chuka hota hain mara sawal ya hai k kia jo 1/5 department Katta hai tu kia hamari GST zyada jama nahi ho jati govt. Ka pass q k 17% hum pahle b jama karwa deta hain r bd ma department bhi 1/5 Kat ka haman payment Karta hai please replied
When 1/5 challan or CPR received from government again enter that invoice in return, this will reduce your output tax. In annexure c invoice type select STWH type and enter that invoice with 20% or 1/5 deduction, after that it will reduce your output
@@faheempracticallearning can you please make video on this issue’s solution as we have same family business and facing the same issue for long time period. Kindly make practical video on efbr/srb website and describe. JazakAllah kheran…
Brother Faheem… can you please make video on this issue’s solution as we have same family business and facing the same issue for long time period. Kindly make practical video on efbr/srb website and describe. JazakAllah kheran…
@@4iffy ok, noted I will upload
@@faheempracticallearning jazakAllah for response sir when upload do let me know please…
Apki videos me awaz bohot slow hai