LAHORE: Pakistan Steel Melters Association on Monday said that the government should review its decision of enforcement of the track and trace system on steel melters.
In a letter written to chairman Federal Board of Revenue, the association demanded that instead of enforcing a track and trace system, the government pay its attention to those units which are not registered and in FATA/PATA.
According to the letter, there is a general impression in the FBR that theft or payment by taxes is being avoided in the steel sector. Strict measures be enforced on it. But the actual fact is that all steel melting furnaces are registered in sales tax with the FBR. No theft is being done.
As per the letter taxes are calculated as per the units consumed. All consumed units are automatically shown in Annexure – K. Products are calculated accordingly. Rates as laid down by the FBR, thereby accounting of tax is made. Every registered unit is bound to deposit the said tax.
Besides that as per Sales Tax Act 1990 Sec 8 B (1) 10% of the complete tax is deposited which is double taxation.
The Association therefore requested that FBR should review its decision of enforcement of track and trace systems on steel melters. “You are requested to Review. Enforcement of the Track and Trace system will be useless.
FBR is requested to pay its attention to those units which are not registered in FATA/PATA. We should be brought back to Special Procedure to increase the taxes. Results will come in the very first month. Please give us time to explain at the earliest,” says the letter.
Copyright Business Recorder, 2022
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