ISLAMABAD: The supply chain of the Fast Moving Consumer Goods (FMCG) sector would be required to register their systems using eFBR portal by providing the required data.
The Federal Board of Revenue (FBR) had given a deadline of February 1, 2024, to all importers/dealers/distributors of FMCG to issue sales tax invoices electronically.
According to the “technical document on digital invoicing” issued by the FBR, the purpose of this document is to facilitate supply chain operators (SCOs) to understand the methods for Digital Invoice Data sharing with the FBR. The supply chain operators included importers/dealers/distributors of fast-moving consumer goods.
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The SCOs are mandated to adapt their IT systems to accommodate both sale invoices and purchase invoices. When entering sales invoice details, the SCO will select the invoice type, which will then be shared through the designated API. The system will capture data when SCOs input data of purchase invoices, debit notes, or credit notes.
The FMCG sector will register their system using eFBR portal by providing the required data. On successful submission of data, FBR will generate POS registration number which will be referenced in compiling each invoice into required format.
The FBR had 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.
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 becomes effective 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
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