FBR issues standardised format for invoices for retailers/integrated suppliers

ISLAMABAD: The Federal Board of Revenue (FBR) has made it mandatory for the retailers/integrated suppliers, linked with the Board’s point of sale (POS) system, to provide name of buyers/customers to the FBR where invoice value is over Rs 100,000.

The FBR has issued an SRO 1006(I)/2021, here on Monday to issue a standardised format for invoices for the retailers/integrated suppliers. According to the SRO 1006(I)/2021, the name is required to be recorded when the customer is liable for the tax or credit or invoice value is above Rs 100,000.

In exercise of the powers conferred by the first proviso to sub-section (1) of Section 23 of the Sales Tax Act 1990, the FBR has specified a standardised format for invoices issued under sub-rules (5) and (6) of rule 150ZEB of the Sales Tax Rules 2006.

Under rule 150ZEB of the Sales Tax Rules, 2006, the registered persons (integrated suppliers) shall install such fiscal electronic device and software, as approved by the Board, available on its website with complete technical instructions for installation, configuration, and integration.

The integrated suppliers shall notify to the board, through the computerised system, of all their outlets and the integrated supplier shall register each point of sale (POS) to activate the integration.

Under the standardised format for invoices, the following information interalia is required to be clearly printed on every invoice issued through allPoint of Sale (PoS) systems integrated with the FBR, namely:(A) Business information; (B) Invoice details; C) Transaction details; and (D) the FBR details.

Business information included business name or brand name; complete address of the business location; FBR’s Sales Tax Registration Number (STRN) and National Tax Number (NTN); name of the Tax Office/Formation, the business is registered at and unique PoS registration number.

Invoice details included unique sequential invoice number; date and time of sale; mode of payment (cash, credit or debit card, cheque or gift vouchers) andoptional for business to business (B2B): Name of the buyer/customer/service recipient. The name is recorded when the customer is liable for the tax or credit or invoice value is above Rs 100,000.

Transaction details included item-wise description of goods or service and (unit) price exclusive of tax; tax rate for each item (item wise breakdown of tax rate. Apply 0% if an item is exempt);item-wise quantity of goods; tax amount; total sale value; tax charged on the invoice; discounts, if any; PoS service fee of Re1 per invoice; total payable amount; and total received amount.

The FBR details included the FBR fiscal invoice number; logo of the FBR’s PoS invoicing system; verifiable QR code, dimensions: 7X7MM and statement in legible font and size: “Verify this invoice through FBR Tax Asaan MobileApp or SMS at 9966 and win exciting prizes in draw”. A sample invoice is appended herewith for ease of replication, the FBR added.

Copyright Business Recorder, 2021