AIRLINK 62.18 Decreased By ▼ -0.51 (-0.81%)
BOP 6.23 Increased By ▲ 0.03 (0.48%)
CNERGY 4.98 Increased By ▲ 0.03 (0.61%)
DFML 14.93 Decreased By ▼ -0.23 (-1.52%)
DGKC 68.54 Decreased By ▼ -0.05 (-0.07%)
FCCL 17.71 Increased By ▲ 0.06 (0.34%)
FFBL 24.56 Decreased By ▼ -0.62 (-2.46%)
FFL 9.16 Increased By ▲ 0.11 (1.22%)
GGL 9.90 Decreased By ▼ -0.12 (-1.2%)
HBL 108.60 Decreased By ▼ -5.15 (-4.53%)
HUBC 116.79 Increased By ▲ 0.90 (0.78%)
HUMNL 6.69 Increased By ▲ 0.02 (0.3%)
KEL 4.46 Decreased By ▼ -0.11 (-2.41%)
KOSM 4.76 Increased By ▲ 0.16 (3.48%)
MLCF 36.77 Decreased By ▼ -0.04 (-0.11%)
OGDC 123.33 Decreased By ▼ -0.92 (-0.74%)
PAEL 22.32 Decreased By ▼ -0.30 (-1.33%)
PIAA 22.22 Increased By ▲ 1.55 (7.5%)
PIBTL 5.74 Decreased By ▼ -0.01 (-0.17%)
PPL 110.93 Decreased By ▼ -0.87 (-0.78%)
PRL 27.50 Decreased By ▼ -0.08 (-0.29%)
PTC 14.19 Increased By ▲ 0.93 (7.01%)
SEARL 53.10 Increased By ▲ 0.30 (0.57%)
SNGP 63.67 Increased By ▲ 0.66 (1.05%)
SSGC 11.01 Increased By ▲ 0.11 (1.01%)
TELE 9.00 Increased By ▲ 0.30 (3.45%)
TPLP 10.74 Decreased By ▼ -0.16 (-1.47%)
TRG 70.21 Increased By ▲ 1.06 (1.53%)
UNITY 24.04 Increased By ▲ 1.04 (4.52%)
WTL 1.36 Increased By ▲ 0.02 (1.49%)
BR100 6,698 Increased By 18 (0.27%)
BR30 22,618 Increased By 34.8 (0.15%)
KSE100 64,891 Increased By 74 (0.11%)
KSE30 21,536 Decreased By -21 (-0.1%)

ISLAMABAD: The Federal Board of Revenue (FBR) has been empowered to require any person or class of persons to integrate their invoice issuing machines with the Board's computerised system for real-time reporting of sales.

Through the Tax Laws (Third Amendment) Ordinance, 2021, the Board may, by notification in the official gazette, require any person or class of persons to integrate their invoice issuing machines with the Board's computerised system for real-time reporting of sales in such mode and manner and from such date as may be prescribed.

The Board shall have power through Sales Tax General Order to direct the gas and electricity distribution companies for discontinuing the gas and electricity connections of any person who falls in the following categories: Any person, including Tier-1 retailers, who fails to register for sales tax purpose.

Tier-1 retailers’ invoices: FBR specifies utilisation of Re1 service charge

A person required to integrate his business as stipulated under sub-section (9A) of section 3, who fails to get himself registered under the Act, and if registered, fails to integrate in the such person shall be liable to pay penalty of 500,000 rupees for first default; penalty of one million rupees for second default after 15 days of order Sub-section (9A) of section 3 (b) notified tier-1 retailers registered but not integrated with the Board's computerised system.

Provided that upon registration or integration, as the case may be, of the above said persons, the Board shall notify the restoration of their gas or electricity connection through sales tax general order, the FBR added.

Copyright Business Recorder, 2021

Comments

Comments are closed.