SHC suspends LTO’s recovery notice: SSGC clarifies

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

Add Mettisglobal as a Trusted Source on Google

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	170,865.77 82.04M	1.08% 1822.57
ALLSHR	103,395.54 292.39M	1.13% 1150.92
KSE30	50,835.76 39.85M	1.07% 537.98
KMI30	243,323.45 38.04M	1.13% 2706.90
KMIALLSHR	67,116.28 151.28M	1.19% 792.24
BKTi	47,421.37 7.45M	1.19% 555.81
OGTi	35,333.07 6.47M	1.24% 433.66

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,850.00	77,885.00 76,250.00	1245.00 1.63%
BRENT CRUDE	102.14	104.27 101.99	-2.68 -2.56%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	4.75 3.79%
ROTTERDAM COAL MONTHLY	138.50	0.00 0.00	-0.55 -0.40%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	94.97	96.84 94.90	-2.26 -2.32%
SUGAR #11 WORLD	18.24	18.37 18.24	-0.08 -0.44%