AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,967 Increased By 125.2 (1.27%)
BR30 30,751 Increased By 714.7 (2.38%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

ISLAMABAD: In a major move to check fake sales tax registrations of manufacturers, the Federal Board of Revenue (FBR) has ordered physical verifications of all manufacturers registered from July 1, 2021, onwards.

In this connection, the FBR has issued instructions to all field formations on the sales tax registration in the category of manufacturers and physical verification of the business premises.

The field formations have started physical verification exercise of business premises of all “manufacturers”, registered from July 1, 2021, across the country.

The FBR has simplified the registration process through the introduction of the online process. The registration process after electronic means has significantly reduced the time registration time to a maximum of one week. Earlier the registration process particularly the manufacturing category was taking a lot of time, which was a major hurdle in a business startup.

The FBR has linked up Nadra biometric system and digitize the whole process to remove the bottleneck in the registration process. This is considered one of the major achievements of the FBR. The physical survey was kept in the second phase subsequent to registration to facilitate the business.

Unverified invoices: IR Commissioner can seal Tier-1 retailers’ outlets: FBR

According to the FBR’s instructions, under Rule 5 and 7 of the Sales Tax Rules, 2006, for applicants seeking online registration for sales tax as “Manufacturer”, post verification of business premises is mandatory to be conducted by respective field offices. Reportedly, the applicants are being registered as “manufacturers” online through an automated module that needs post-physical verification of business premises by the field formations.

“In case of a manufacturer, the Board may require post-verification through field offices or a third party authorized by the Board”, rule 5 of the Sales Tax Rules said.

It is, therefore, requested that the taxpayers who got registered as “manufacturer” from July 1, 2021, may be physically verified, if already not, and reported to the Board by March 31, 2022, the FBR added.

Copyright Business Recorder, 2022

Comments

Comments are closed.

Fouzi Mar 21, 2022 12:43am
What about exporters who are not manufacturers but claiming sales tax funds, known as commercial exporters. Are they entitled for tax refunds if they pay input tax on Thier purchases?
thumb_up Recommended (0)
Attaullah Mar 21, 2022 07:49am
I want do the job
thumb_up Recommended (0)
Amjad Mar 23, 2022 09:16pm
@Attaullah , ha ha
thumb_up Recommended (0)