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PLGMEA proposes amendment to ST & FE returns

Patron-in-Chief of Pakistan Leather Garments manufacturers & Exporters Association (PLGMEA), Fawad Ijaz Khan has requested the FBR to make some amendments to the Sales Tax & Federal Excise (ST & FE) Returns to be implemented from 1st January 2012 so that FBR can implement its decision regarding submission of Computerised National Identity Card (CNIC) or National Tax Number (NTN) of unregistered buyers.

Khan revealed that from 1st January 2012 the FBR Electronic Filing System would not accept any ST & FE return from Registered Manufacturers, Importers or Exporters who do not give the CNIC or NTN of unregistered buyers. He further said that FBR has also earlier tried to implement this condition but it was opposed by the business community. He said that when the businesses will file their ST&FE return of January 2012 in February 2012 there will again be hue & cry from the business community against this condition and FBR will again defer this condition.

Khan said that the condition of provision of CNIC or NTN of all buyers is very harsh because if one registered business is unable to furnish details of even a single buyer's CNIC/NTN the FBR system will automatically declare the registered person as inactive and will block its Sales Tax return. He said that the business community wanted to help the government in documentation of the economy but all new notifications of FBR should be Practical for Enforcement.-PR

Copyright Business Recorder, 2011