question archive Beta Engineering Limited (BEL) is registered under the Sales Tax Act, 1990
Beta Engineering Limited (BEL) is registered under the Sales Tax Act, 1990
Subject:LawPrice: Bought3
Beta Engineering Limited (BEL) is registered under the Sales Tax Act,
1990. The company is engaged in the manufacturing and supplying of appliances. Following information has been extracted from the records of BEL for the month of June, 2020.
All Figures in Pak Rupees
Sale of exempted goods: Local Purchases:
To the registered person 400,000,000 Purchase from registered person 500,000,000
To un-registered person 100,000,000 Purchase from un-registered person 300,000,000
Sale of taxable goods: Imports:
To the registered person 600,000,000 Value as per commercial invoice 450,000,000
To un-registered person 150,000,000 Custom duty 50,000,000
Export of taxable goods 275,000,000 Federal excise duty 20,000,000
Additional Information:
1) Input Tax credit forward from previous tax period of January 2020 is Rs. 1,200,000.
2)Purchases amounting to Rs. 445,000 were from blacklisted.
3)All payments for purchases from registered persons are inclusive of Sales Tax at 17%.
4)All figures of sales are stated exclusive of Sales Tax.
Required: Determine the sales tax liability of Beta Engineering Limited for the month of June 2020
