Revised Annex-H (stock statement): Exporters allowed to file ST refund claims by September 19

ISLAMABAD: The Federal Board of Revenue (FBR) has allowed exporters to file the revised Annex-H (stock statement) of the sales tax return up to September 19, 2020 for obtaining sales tax refunds for the tax period of July 2019 to Feb 2020. In this regard, the FBR has issued instructions to all Chief Commissioners Inland Revenue, Large Taxpayers Units (LTUs)/Regional Tax Offices (RTOs) here on Tuesday.

Through the said FBR's directive, the exporters have been allowed to review and resubmit their sales tax refund claims filed under the FASTER system after removing shortcomings by September 19, 2020.

According to the FBR's instructions, in exercise of the powers conferred under Section 74 of the Sales Tax Act, 1990, the Bard has extended the time limit upto September 19, 2020 for filing of Annex-H in the cases of taxpayers who filed Annex-H for any tax period and the same was ordered to be reopened by Board for editing and resubmission by the claimants. This condonation is valid for only such Annex-H that were filed and ordered to be re-opened on or before August 20, 2020.

The taxpayers who have not filed Annex-H at all, so far despite repeated extensions as allowed by the Board and the statutory time limit for filing of Annex-H has lapsed, are required to take the route as provided under Rule 39D of the Sales Tax Rules, 2006, FBR added.

Copyright Business Recorder, 2020