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ISLAMABAD: The Federal Board of Revenue (FBR) has again revised the structure of licensing committee to grant license of track and trace system comprising three members of the Inland Revenue officers and headed by a chief commissioner.

The FBR has issued SRO 831(I)/2020 Thursday to amend the Sales Tax Rules, 2006. Now, the licensing committee means a committee comprising at least three members of the Inland Revenue officers below the rank of commissioner, headed by an official not below the rank of chief commissioner, assisted by a technical or an IT expert or any other officer or authority designated by the board.

The FBR had obtained powers to include any "authority" such as the Public Procurement Regulatory Authority as member of the licensing committee for grant of license of track and trace system for monitoring of excisable commodities including cement and beverages.

In March 2020, the FBR had revised the structure of licensing committee to grant license of track and trace system comprising three members of the Inland Revenue officers (BS-20 and above) of the FBR Headquarters assisted by technical or IT expert.

Previously, the licensing committee meant a committee comprising at least three members of the Inland Revenue officers below the rank of BS-20 of the FBR Headquarters assisted by an IT expert or any other officer or authority designated by the board.

The FBR has decided to track and monitor the clearances of duties/taxes paid items from manufacturing units of cement, sugar and fertiliser sectors under the automated Track and Trace System.

Under FBR SRO 250(I)/2019, the licensee shall be responsible to operationalise the system within six months of issuance of license. The licensee shall run and manage the system under proper warrantee and shall ensure maintenance during the period of license.

The licensee shall charge fee for tax stamps from the manufacturer or importer. The stakeholders including licensee had informed the FBR that at least six months would be needed to import the required machinery for the project. The FBR had granted permission to implement the project in six months and another three months grace period.

Copyright Business Recorder, 2020