Section 04 of Sales Tax Act, 1990. What is Zero Rated Tax ?

Описание: Section 04 of Sales Tax Act, 1990. What is Zero Rated Tax ?
A detailed Lecture on the Topic Zero Rated Tax, as mentioned in Section 04 of Sales Tax Act, 1990.

4. Zero rating.– Notwithstanding the provisions of section 3 2 [except those of sub-section (1A)], 3 [...] the following goods shall be charged to tax at the rate of zero per cent:--
[(a) goods exported, or the goods specified in the
Fifth Schedule
;]

(b) supply of stores and provisions for consumption aboard a conveyance proceeding to a destination outside Pakistan as specified in section 24 of the Customs Act, 1969 (IV of 1969);
4 [(c) such other goods, as the Federal Government may specify by notification in the official Gazette, whenever circumstances exist to take immediate action for the purposes of national security, natural disaster, national food security in emergency situations and implementation of bilateral and multilateral agreements:”; and]