Originally Posted by MMurtaza

(13) Importer
“importer” means any person who [ ... ] imports any goods into Pakistan;
(14) Input Tax
“input tax”, in relation to a registered person, means – –
(a) tax levied under this Act on supply of goods to the person;
(b) tax levied under this Act on the import of goods by the person;
(c) in relation to goods or services acquired by the person, tax levied under the Federal Excise Act, 2005 in sales tax mode as a duty of excise on the manufacture or production of the goods, or the rendering or providing of the services;
(d) Provincial sales tax levied on services rendered or provided to the person; and
(e) levied under the Sales Tax Act, 1990 as adapted in the State of Azad Jammu and Kashmir, on the supply of goods received by the person;
(14A) KIBOR
The expression “KIBOR” means Karachi Inter-Bank Offered Rate prevalent on the first day of each quarter of the financial year;
(15) Local Inland Revenue Office
“Local Inland Revenue Office” means the office of Superintendent of Inland Revenue or such other office as the Board may, by notification in the official Gazette, specify;
(16) Manufacture
“Manufacture” or ‘produce’ includes – –
(a) any process in which an article singly or in combination with other articles, materials, components, is either converted into another distinct article or product or is so changed, transformed or reshaped that it becomes capable of being put to use differently or distinctly and includes any process incidental or ancillary to the completion of a manufactured product;
(b) process of printing, publishing, lithography and engraving; and
(c) process and operations of assembling, mixing, cutting, diluting, bottling, packaging, repacking or preparation of goods in any other manner;
(17) Manufacturer
“manufacturer” or “producer” means a person who engages, whether exclusively or not, in the production or manufacture of goods whether or not the raw material of which the goods are produced or manufactured are owned by him; and shall include – –
(a) a person who by any process or operation assembles, mixes, cuts, dilutes, bottles, packages, repackages or prepares goods by any other manner;
(b) an assignee or trustee in bankruptcy, liquidator, executor, or curator or any manufacturer or producer and any person who disposes of his assets in any fiduciary capacity; and
(c) any person, firm or company which owns, holds, claims or uses any patent, proprietary, or other right to goods being manufactured, whether in his or its name, or on his or its behalf, as the case may be, whether or not such person, firm or company sells, distributes, consigns or otherwise disposes of the goods
[Provided that for the purpose of refund under this Act, only such person shall be treated as manufacturer-cum-exporter who owns or has his own manufacturing facility to manufacture or produce the goods exported or to be exported;]
(18) Officer of Inland Revenue
“Officer of Inland Revenue” means an officer appointed under section 30;
(19) Open Market Price
‘open market price’ means the consideration in money which that supply or a similar supply would generally fetch in an open market;
(20) Output Tax
“output tax”, in relation to a registered person, means – –
(a) tax levied under this Act on a supply of goods, made by the person;
(b) tax levied under the Federal Excise Act, 2005 in sales tax mode as a duty of excise on the manufacture or production of the goods, or the rendering or providing of the services, by the person;
(c) Provincial sales tax levied on services rendered or provided by the person;
(21) Person
“person” means,–
(a) an individual;
(b) a company or association of persons incorporated, formed, organized or established in Pakistan or elsewhere;
(c) the Federal Government;
(d) a Provincial Government;
(e) a local authority in Pakistan; or
(f) a foreign government, a political subdivision of a foreign government, or public international organization;
(22) Prescribed
“Prescribed” means prescribed by rules made under this Act;
(22A) Provincial Sales Tax
“Provincial sales tax” means tax levied under, Provincial laws or laws relating to Islamabad Capital Territory, which are declared by the Federal Govt., through notification in the official Gazette to be Provincial Sales Tax for the purpose of input tax;]
(23) Registered Office
“registered office” means the office or other place of business specified by the registered person in the application made by him for registration under this Act or through any subsequent application to the [Commissioner];
(24) Registration Number
“Registration number” means the number allocated to the registered person for the purpose of this Act;
(25) Registered Person
“registered person” means a person who is registered or is liable to be registered under this Act:
Provided that a person liable to be registered but not registered under this Act [ ...] shall not be entitled to any benefit available to a registered person under any of the provisions of this Act or the rules made thereunder;
(27) Retail Price
“retail price”, with reference to the Third Schedule, means the price fixed by the manufacturer [...], inclusive of all [duties], charges and taxes (other than sales tax [...]) at which any particular brand or variety of any article should be sold to the general body of consumers or, if more than one such price is so fixed for the same brand or variety, the highest of such price.
[Provided that the Board may through a general order specify zones or areas for the purpose of determination of highest retail price for any brand or variety of goods]
(28) Retailer
“Retailer” means a person [[...]] supplying goods to general public for the purpose of consumption [:].
[Provided that any person, who combines the business of import and retail or manufacture or production with retail, shall notify and advertise wholesale prices and retail prices separately, and declare the address of retail outlets, and his total turnover per annum shall be taken into account for the purposes of registration under section 14.]
(29) Return
“return” means any return required to be furnished under Chapter-V of this Act;
(29A) Sales Tax
“sales tax” means – –
(a) the tax, additional tax, or default surcharge levied under this Act;
(b) a fine, penalty or fee imposed or charged under this Act; and
(c) any other sum payable under the provisions of this Act or the rules made thereunder;
(29AA) Sales Tax Account
“sales tax account” means an account representing the double entry recording of sales tax transactions in the books of account;

(30) Schedule
“Schedule” means a Schedule appended to this Act;

(31) Similar Supply
“similar supply”, in relation to the open market price of goods, means any other supply of goods which closely or substantially [resembles] the characteristics, quantity, components and materials of the aforementioned goods;

(31A) special audit
“special audit” means an audit conducted under section 32A;

(32) Special Judge
“Special Judge” means the Special Judge appointed under Section [37C of the act until such appointment is made by the Special Judge appointed under section] 185 of the Customs Act;
(33) Supply
“supply” means a sale or other transfer of the right to dispose of goods as owner, including such sale or transfer under a hire purchase agreement, and also includes – –
(a) putting to private, business or non-business use of goods produced or manufactured in the course of taxable activity for purposes other than those of making a taxable supply;
(b) auction or disposal of goods to satisfy a debt owed by a person; and
(c) possession of taxable goods held immediately before a person ceases to be a registered person:
Provided that the Federal Government, may by notification in the official Gazette, specify such other transactions which shall or shall not constitute supply;
(33 A) Supply Chain
“ Supply Chain” means the series of transactions between buyers and sellers from the stage of first purchase or import to the stage of final supply;”;
(34) Tax
“tax”, unless the context requires otherwise, means sales tax;
(35) Taxable Activity
“taxable activity”, means any economic activity carried on by a person whether or not for profit, and includes – –
(a) an activity carried on in the form of a business, trade or manufacture;
(b) an activity that involves the supply of goods, the rendering or providing of services, or both to another person;
(c) a one-off adventure or concern in the nature of a trade; and
(d) anything done or undertaken during the commencement or termination of the economic activity,
but does not include – –
(a) the activities of an employee providing services in that capacity to an employer;
(b) an activity carried on by an individual as a private recreational pursuit or hobby; and
(c) an activity carried on by a person other than an individual which, if carried on by an individual, would fall within sub-clause (b).

(36) Tax Fraction
“tax fraction” means the amount worked out in accordance with the following formula: –
a
100 + a

('a' is the rate of tax specified in section 3);
(37) Tax Fraud
“tax fraud” means knowingly, dishonestly or fraudulently and without any lawful excuse (burden of proof of which excuse shall be upon the accused) – –
(i) doing of any act or causing to do any act; or
(ii) omitting to take any action or causing the omission to take any action, [including the making of taxable supplies without getting registration under this Act [[; or],]
(iii) falsifying [or causing falsification] the sales tax invoices,]
in contravention of duties or obligations imposed under this Act or rules or instructions issued thereunder with the intention of understating the tax liability [or underpaying the tax liability for two consecutive tax periods] or overstating the entitlement to tax credit or tax refund to cause loss of tax;
(39) Taxable Goods
“taxable goods” means all goods other than those which have been exempted under section 13;
(40) Tax Invoice
'’tax invoice’’ means a document required to be issued under section 23;
(41) Taxable Supply
‘’taxable supply’’ means a supply of taxable goods made [...] [by an importer, manufacturer, wholesaler (including dealer), distributor or retailer] other than a supply of goods which is exempt under section 13 and includes a supply of goods chargeable to tax at the rate of zero per cent under section 4;
[42. *** ]
(43) Tax Period
“tax period” means a period of one month or such other period as the Federal Government may [, ] by notification in the official Gazette, specify;
(44) Time of Supply
“time of supply,” in relation to,– –
(a) a supply of goods, other than under hire purchase agreement, means the time at which the goods are delivered or made available to the recipient of the supply” [“or the time when any payment is received by the supplier in respect of that supply, which ever is earlier];
(b) a supply of goods under a hire purchase agreement, means the time at which the agreement is entered into; and
(c) services, means the time at which the services are rendered or provided;
[ “ Provided that in respect of sub clause ( a) ,(b) or (c), where any part payment is received, – –
(i) for the supply in a tax period, it shall be accounted for in the return for that tax period; and
(ii) in respect of exempt supply, it shall be accounted for in the return for the tax period during which the exemption is withdrawn from such supply ;]
(44A) Trust
“trust”, means an obligation annexed to the ownership of property and arising out of the confidence reposed in and accepted by the owner, or declared and accepted by the owner for the benefit of another, or of another and the owner, and includes a unit trust;
(44AA) Unit Trust
“unit trust”, means any trust under which beneficial interests are divided into units such that the entitlements of the beneficiaries to income or capital are determined by the number of units held;
[45. ***] OMITTED
(46) Value of Supply
“value of supply” means:--
(a) in respect of a taxable supply, the consideration in money including all Federal and Provincial duties [and taxes, if any, which the supplier receives from the recipient for that supply but excluding the amount of tax:
Provided that – –
(i) in case the consideration for a supply is in kind or is partly in kind and partly in money, the value of the supply shall mean the open market price of the supply excluding the amount of tax; [ ... ]
(ii) in case the supplier and recipient are associated persons and the supply is made for no consideration or for a consideration which is lower than the open market price, the value of supply shall mean the open market price of the supply excluding the amount of tax; [and]
(iii) in case a taxable supply is made to a consumer from general public on installment basis on a price inclusive of mark up or surcharge rendering it higher than open market price, the value of supply shall mean the open market price of the supply excluding the amount of tax.
(b) in case of trade discounts, the discounted price excluding the amount of tax; provided the tax invoice shows the discounted price and the related tax and the discount allowed is in conformity with the normal business practices;
(c) in case where for any special nature of transaction it is difficult to ascertain the value of a supply, the open market price;
(d) in case of imported goods, the value determined under section 25 [...] of the Customs Act, including the amount of customs-duties and central excise duty levied thereon; [...]
(e) in case where there is sufficient reason to believe that the value of a supply has not been correctly declared in the invoice, the value determined by the Valuation Committee comprising representatives of trade and the [Inland Revenue] constituted by the [Commissioner] [;] and]
(f) in case the goods other than taxable goods are supplied to a registered person for processing, the value of supply of such processed goods shall mean the price excluding the amount of sales tax which such goods will fetch on sale in the market:]
(g) in case of a taxable supply, with reference to retail tax, the price of taxable goods excluding the amount of retail tax, which a supplier will charge at the time of making taxable supply by him, or such other price as the Board may, by a notification in the official Gazette, specify.
[Provided] that, where the Board deems it necessary it may, by notification in the official Gazette, fix the value of any imported goods or taxable supplies or class of supplies and for that purpose fix different values for different classes or description of same type of imported goods or supplies:
Provided further that where the value at which import or supply is made is higher than the value fixed by the Board, the value of goods shall, unless otherwise directed by the Board, be the value at which the import or supply is made;]
(47) Wholesaler
‘‘wholesaler’’ [includes a dealer and] means any person who carries on, whether regularly or otherwise, the business of buying and selling goods by wholesale or of supplying or distributing goods, directly or indirectly, by wholesale for cash or deferred payment or for commission or other valuable consideration or stores such goods belonging to others as an agent for the purpose of sale; and includes [a person supplying taxable goods to [a person [who deducts income tax at source under the Income Tax Ordinance, 2001 (XLIX of 2001)]] [...]; and
(48) zero-rated supply
“zero-rated supply” means a taxable supply which is charged to tax at the rate of zero per cent under section 4.