SHC suspends LTO’s recovery notice: SSGC clarifies

MG News | February 25, 2022 at 01:12 PM GMT+05:00

0:00

February 25, 2022 (MLN): The Sui Southern Gas Company (SSGC) clarified that Sindh High Court (SHC) suspended the recovery notice of Large Taxpayer Office (LTO) being devoid of legal merits and directed SSGC to pursue the matter before the Appellate Tribunal, an independent forum, the company filing on PSX showed today.

This statement was issued to clarify the news circulating on media regarding the recovery of sales tax.

In the backdrop, LTO issued a notice of recovery of sales tax to banks regarding SSGC without following the legal process and waiting for the decision of an independent forum i.e., Appellate Tribunal.

Demand was raised on irrational and unreasonable grounds of treating the swapping of indigenous gas against RLNG to SNGPL as sales income.

Against the said recovery notice, SSGC filed a constitutional petition before SHC.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,603.73 379.80M	-0.50% -908.92
ALLSHR	108,021.19 705.75M	-0.35% -379.48
KSE30	54,828.33 124.04M	-0.69% -379.24
KMI30	253,396.08 110.85M	-0.77% -1976.44
KMIALLSHR	69,330.18 392.81M	-0.57% -398.02
BKTi	51,913.39 44.12M	-0.50% -259.93
OGTi	35,053.03 27.27M	-0.84% -295.86

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	68,980.00	69,580.00 65,970.00	3480.00 5.31%
BRENT CRUDE	67.73	68.05 66.89	0.21 0.31%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-1.50 -1.54%
ROTTERDAM COAL MONTHLY	104.60	104.60 104.60	1.30 1.26%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	62.81	63.26 62.14	-0.03 -0.05%
SUGAR #11 WORLD	13.55	13.57 13.42	0.07 0.52%