Q-1: A Sales Tax Registered Person import goods with following details during a tax period:

Invoice Price 20,200 USD

Custom Duty Rs. 500,000

Air Freight Rs. 450,000

Clearing and Forwarding Charges Rs. 50,000

Income tax refundable Rs. 200,000

Federal Excise Duty Rs. 85,000

Administrative Expenses Rs. 60,000

Bank Charges Rs. 30,000

Value of goods determined for custom duty Rs. 3500,000

Local Freight inward charges Rs. 45,000

Required: Compute Input Tax of the company according to the Sales Tax Act, 1990. Exchange rate is 1USD = Rs. 150