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Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,777
1024hr
Pakistan Cases
1,287,161
33624hr
0.78% positivity
Sindh
476,830
Punjab
443,519
Balochistan
33,507
Islamabad
107,930
KPK
180,383

ISLAMABAD: The Federal Board of Revenue (FBR) will allow input tax credit against electronic data of supplies by the persons registered in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB).

The FBR has issued SRO 1064(1)/2021, here on Tuesday to amend the Sales Tax Rules, 2006.

According to the new procedure, the input tax credit against invoices issued by persons registered under sales tax law of Azad Jammu and Kashmir and Gilgit-Baltistan shall be available to a buyer registered under the Act in Pakistan, if such AJK and GB registered persons are enrolled with the Board's computerized system and are also on the active taxpayer list maintained by the AJK and GB sales tax authorities.

The AJK and GB registered persons at the time of their enrolment with the Board shall furnish an undertaking that they will provide their supply record and the return filed in the AJK and the GB as and when required by the respective regional tax office (RTO), corporate tax office (CTO) or Large Tax Office (LTO), where the respective buyers are registered to ascertain correctness of their sales to Pakistani registered persons.

From such date when the AJK and GB authorities institute e-filing for their registered persons, the adjustment as aforesaid shall only be available against electronic data of supplies as provided to the Board by the AJK and the GB authorities, the FBR added.

Copyright Business Recorder, 2021

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