VAT & SD Act 2012
Section 63 - Imposition and Collection of Turnover Tax
(as updated till Finance Ordinance 2025)
(1) Person enlisted or required to be enlisted shall pay turnover tax at the rate of 1[4 (four)] percent on the turnover of his economic activities.
2[***]
(2) The turnover tax payable in a tax period by any enlisted person shall have to be paid before submission of the return of such period.
(3) Method in respect of assessment and collection of payable turnover tax, accounts keeping, drawback of turnover tax, adjudication and other related matters shall be determined by rules.
3[(4) Value Added Tax or Turnover Tax paid on the inputs purchased by the enlisted person cannot be taken credit or decreasing adjustment.]
1 The figure, brackets and words “3 (three)” were substituted and proviso was omitted by section 83(a) of the Finance Act, 2019 (Act No. 10 of 2019) with effect from 01 July 2019.
2 The proviso was omitted by section 83(a) of the Finance Act, 2019 (Act No. 10 of 2019) with effect from 01 July 2019.
3 Sub-section (4) was inserted by section 83(b) of the Finance Act, 2019 (Act No. 10 of 2019) with effect from 01 July 2019.
Disclaimer: This is the authentic English text of The Value Added Tax and Supplementary Duty Act 2012, as published under SRO No. 440-Law/2025/326-Mushak dated 05 November 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.