Punjab Finance Bill------6-----(Lahore)

...:(UrduPoint / Pakistan Point News - 17th Oct, 2018 ) In Second schedule: (i) in serial No.4, in column 2, after the word "businesses", the words "including any cash collection incidental thereto" shall be inserted; (ii) in serial No.7, in column 2, for the existing entry, the following shall be substituted; "Services provided in respect of insurance to a policy holder by an insurer, including a re-insurer for: (a) fire insurance; (b) goods insurance; (c) health insurance; (d) life insurance; (e) marine insurance; (f) theft insurance; and (g) any other insurance.

EXCLUDING: (a) marine insurance for export; and (b) crop insurance.

(iii) in serial No, 14, in column 4, for the existing entry, the following shall be substituted: "five percent without input tax credit/adjustment in respect of Government civil works and sixteen percent with input tax credit/adjustment for others" shall be substituted; (iv) in serial No. 18, in column 2, the words "including cosmetic and plastic surgery and hair transplants" shall be omitted; (v) in serial No. 24, in column 2, after the words "convention services" the expression "including provision of space, equipment, accessories and other allied services" shall be inserted; (vi) in serial No 48: (a) in column 2, the following shall be omitted: EXCLUDING: Services provided by an individual owner of a vehicle for carriage of goods.

" (b) in column 4, for the words "sixteen percent", the words "fifteen percent" shall be substituted; (vii) in serial No, 56, in column 2, for the existing entry, the following shall be substituted: "Debt Collection, rent collection and similar other recovery or collection services including right to collect the toll or fee or regulatory fee or duty or any other similar collection; (ix) in serial No 60. in column 2 for the existing entry, the following shall be substituted: "Services provided by skin and laser clinics, cosmetic and plastic surgeons and hair transplant services including consultation services.

EXCLUDING Services provided to acid or burn victims.

(x) in serial No 61, in column 2, for the existing entry, the following shall be substituted: Services provided by warehouses or depots for storage or cold storage including letting of space for storage.

Excluding: Storage of agriculture produce for the person's own consumption.

(xi) after serial No 62 in columns 1 to 4 the following new entries shall be inserted at serial no 63: "63 Parking services Respective Sixteen headingspercent".

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