August 4, 2021
ISLAMABAD: The Federal Board of Revenue (FBR) has bound manufacturers of major revenue generation sectors such as tobacco, sugar, fertiliser, cement and beverages to get brand registration certificates for selling their products in the domestic market. This step is aimed at curbing evasion of taxes.
The FBR has been trying to implement a Track and Trace System and litigation was underway at the Sindh High Court and the Islamabad High Court. Till the disposal of these litigations, the FBR has come up with the Brand Registration Certificate in order to stop tax-evading sectors to sell unregistered products into the market. The FBR high-ups were hopeful that the verdict would be announced within one month,
Mehtab Haider
ISLAMABAD: The Federal Board of Revenue (FBR) has bound manufacturers of major revenue generation sectors such as tobacco, sugar, fertiliser, cement and beverages to get brand registration certificates for selling their products in the domestic market. This step is aimed at curbing evasion of taxes. The FBR has been trying to implement a Track and Trace System and litigation was underway at the Sindh High Court and the Islamabad High Court. Till the disposal of these litigations, the FBR has come up with the Brand Registration Certificate in order to stop tax-evading sectors to sell unregistered products into the market. The FBR high-ups were hopeful that the verdict would be announced within one month,
August 4, 2021
ISLAMABAD: The FBR has disallowed 60 percent input tax adjustments for those Tier-1 retailers who will not integrate with the Point of Sale (POS) software with effect from August 1, 2021. The list of non-integrated Tier-1 retailers will be updated monthly on the FBR’s website and all those will be disallowed 60 percent input adjustment who will not integrate themselves with the POS software till 15th of every month. The FBR has updated the list of 6,773 Tier-1 retailers across the country not integrated with the POS software. The FBR has decided to update the list on 5th of every month and give them an
August 4, 2021
ISLAMABAD: The FBR has disallowed 60 percent input tax adjustments for those Tier-1 retailers who will not integrate with the Point of Sale (POS) software with effect from August 1, 2021.
The list of non-integrated Tier-1 retailers will be updated monthly on the FBRâs website and all those will be disallowed 60 percent input adjustment who will not integrate themselves with the POS software till 15th of every month.
The FBR has updated the list of 6,773 Tier-1 retailers across the country not integrated with the POS software. The FBR has decided to update the list on 5th of every month and give them an opportunity to apprise concerned commissioners that they are not eligible to be declared as Tier-1 retailers. Otherwise, they will be disallowed 60 percent input adjustment in case of not integrating with the POS software.
The FBR has issued a Sales Tax General Order no.1 of 2022 by which a system-based approach is being adopted to integrate tier-1 retailers with POS effective this month. APP/File
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday set a deadline of Aug 15 for all tier-1 retailers to get integrated with the Point-of-Sale (POS) system otherwise they would be denied credit for input tax equal to 60 per cent of claimed in the sales tax return for July.
The FBR has issued a Sales Tax General Order no.1 of 2022 by which a system-based approach is being adopted to integrate tier-1 retailers with POS effective this month.