- Asks them to ensure integration with Point of Sale system by August 10
ISLAMABAD: The Federal Board of Revenue (FBR) has notified a list of 114 unregistered retailers (Tier-1), who are required to be integrated with the FBR’s Point of Sale (POS) system by August 10, 2022.
In this regard, the authority has issued Sales Tax General Order (STGO) 2 of 2022, here on Friday.
According to the FBR, these 114 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 101 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) now stood at 113, 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 August 10, 2022. Upon filing of sales tax return for the month of August 2022 for all hereby notified Tier-I retailers not having integrated, their input tax claim would be disallowed, the FBR warned retailers.
The FBR’s notification stated that in order to operationalise this important provision of law, a system-based approach has been adopted whereby all Tier-I retailers are required to be integrated with the FBR.
The procedure of exclusion from this list of identified Tier-I shall apply as laid down in STGO 17 of 2022 dated May 13, 2022, FBR added.
Copyright Business Recorder, 2022