Section 20(1) in The Police Enhanced Penalties Ordinance, 2005
(1)The net tax payable by a registered dealer for a tax period shall be the difference between the output tax plus purchase tax, if any, and the input tax, which can be determined by the following formula :Net Tax payable = (O+P) - IWhere 'O' denotes the Output tax payable for any tax period as determined under section 18, 'P' denotes the purchase tax paid by a registered dealer for any tax period as determined under section 14 and 'I' denotes the Input tax paid or payable for the said tax period as determined under section 19.
