Fast-moving consumer goods: FBR gives deadline for ST digital invoicing

ISLAMABAD: The Federal Board of Revenue (FBR) has given deadline of February 1, 2024 to all importers/ dealers/ distributors of fast-moving consumer goods to issue sales tax invoices electronically.

The FBR has issued SRO 28(I)/ 2023 here on Thursday to include the entire supply chain of fast-moving consumer goods within the ambit of “digital invoicing.”

The FBR has notified that the said registered persons shall transmit sales tax invoices electronically including all importers and manufacturers of fast-moving consumer goods, all wholesalers (including dealers), distributors of fast-moving consumer goods and all wholesaler-cum-retailers engaged in bulk import and supply of fast-moving consumer goods on wholesale basis to the retailers.

Fast-moving consumer goods: FBR issues SRO

The FBR has notified that these registered persons shall transmit sales tax invoices electronically including all importers and manufacturers in terms of rule 150Q of its notification 1525(I)/2023, as prescribed under Chapter XIV of the Sales Tax Rules 2006.

This notification shall come into force on and from February 1, 2024. The said registered persons may after showing plausible cause make application to the Commissioner Inland Revenue having jurisdiction for extension in time for compliance. In this Notification, unless there is anything repugnant in subject or context, “fast moving consumer goods” means consumer goods which are supplied to retail marketing as per daily demand of a consumer, excluding durable goods.

Copyright Business Recorder, 2024