GOVERNMENT OF PAKISTAN

MINISTRY OF FINANCE, ECONOMIC AFFAIRS,

STATISTICS AND REVENUE

(REVENUE DIVISION)

***

 

Islamabad, the 12^th June, 2004.

 

NOTIFICATION

(SALES TAX)

 

 

S.R.O. 445(I)/2004.- In exercise of the powers conferred by the proviso to clause (33) of section 2 of the Sales Tax Act, 1990, the Federal Government is pleased to specify that the following types of transactions shall not constitute supply, namely:-

 

(a)               forward transactions of commodities at the National Commodity Exchange Limited; and

(b)               goods delivered under a Murabaha financing arrangement to or by a bank or a financial institution approved by the State Bank of Pakistan or the Securities and Exchange Commission  of Pakistan, as the case may be.

[C. No. 1/33-STB/2004]

 

 

(Shahid Ahmad)

Additional Secretary