MEMBERS NEWSLETTER
MEMBERS NEWSLETTER MEMBERS NEWSLETTER
MEMBERS NEWSLETTERApril 2011PeriodUp to the end ofthe 3 rd yearfrom the dateof registrationFrom thecommencementof the 4 th yearto the end ofthe 6 th yearFrom thecommencementof the 7 th yearto the end ofthe 9 th yearFrom thecommencementof the 10 th yearto the end ofthe 12 th yearRate2%4%8%12%• There is no upper limit of turnover for the application of the above rates2. Exemptions. ( PART II of the First Schedule)(a) Effective from 26.11.2010The import or Supply of –- Petrol specified under HS Code 2710.11.20;- Coal specified under HS Codes 2701.11, 2701.12 and 2701.19;- Bitumen specified under HS Heading 27.14 and HS Code 2713.20;(b) Effective from 29.11.2010The import or Supply of –- Machinery and equipment for manufacture of grain mixed bakery products under HSCodes 8437.10, 8437.80 and 8428.90;
MEMBERS NEWSLETTERApril 2011(c) Effective from 01.01.2011The supply of –- Telecommunication services;- Locally manufactured briquettes and pallets using bio mass wastes;- Goods or services to any infrastructure development project funded through foreign loansor donations directly to government ministries, as approved by the Minister of Finance andgazetted for this purposes;- Goods or services by an institution set up by the Ministry of Defense for the rehabilitationof disable soldiers, so far as the activities are carried out by the participation of suchsoldiers;- Locally developed software;- Services being receipts from re-insurance by any local insurance company by way ofcommission or compensation in an insurance business;- Services being the issue of licenses to local telecom operators by TelecommunicationRegulatory Commission ( TRC)- Educational services; and- Leasing facilities for:- Motor coaches with seating capacity not less than 28 passengers seats and used forpublic transport service by the holder of any passenger service permit issued by theNational Transport Commission or any Provisional Road Passenger Transport Authority ;- Lorries; and- Tractors.The import or Supply of –- Machinery and equipment for the use of leather or footwear industry or bags under HSHeadings Codes.8453.10, 8453.20, 8453.80- High tech medical and laboratory equipment under HS Codes 8479.89.10, and HS Headings90.01 through 90.33;- Motor homes under H S Codes 8703.32.93 and 8703.33.71;
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<strong>MEMBERS</strong> <strong>NEWSLETTER</strong>April 2011PeriodUp to the end ofthe 3 rd yearfrom the dateof registrationFrom thecommencementof the 4 th yearto the end ofthe 6 th yearFrom thecommencementof the 7 th yearto the end ofthe 9 th yearFrom thecommencementof the 10 th yearto the end ofthe 12 th yearRate2%4%8%12%• There is no upper limit of turnover for the application of the above rates2. Exemptions. ( PART II of the First Schedule)(a) Effective from 26.11.2010The import or Supply of –- Petrol specified under HS Code 2710.11.20;- Coal specified under HS Codes 2701.11, 2701.12 and 2701.19;- Bitumen specified under HS Heading 27.14 and HS Code 2713.20;(b) Effective from 29.11.2010The import or Supply of –- Machinery and equipment for manufacture of grain mixed bakery products under HSCodes 8437.10, 8437.80 and 8428.90;
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