ISLAMABAD: The Federal Board of Revenue (FBR) has issued a list of 101 unregistered retailers (Tier-1), who are required to be integrated with the FBR’s Point of Sale (POS) system.
The FBR has issued Sales Tax General Order (STGO) 1 of 2022, here on Wednesday.
According to the FBR, these 101 identified retailers are still operating out of the documented regime and not depositing collected sales tax from consumers into the national kitty.
Last month, the FBR had issued a list of 113 big retailers (Tier-1), which are required to be integrated with the FBR’s POS system and were denied 60 percent input tax credit in case of non-integration.
The number of big retailers (Tier-1) has drastically decreased from 113 to 101 retailers, which are required to be integrated with the POS system. The board has decided to raise sales tax demand against these big retailers (Tier-1), who are still not integrated with the FBR’s POS system by the deadline of July 10, 2022.
Upon filing of sales tax return for the month of June 2022 for all hereby notified Tier-I retailers not having integrated, their input tax claim would be disallowed, the FBR said.
The FBR’s notification stated that in order to operationalise this important provision of law, a system-based approach has been adopted.
The procedure of exclusion from this list of 113 identified Tier-I shall apply as laid down in STGO 17 of 2022 dated May 13, 2022.
Copyright Business Recorder, 2022
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