Commissioner IR tells APTMA member mills: FBR devises three automated systems to streamline payment system

LAHORE: Raza Ashfaq Sheikh, Commissioner Inland Revenue and Member Sales Tax Appellate Tribunal Punjab, has explained refunds payment system under the Sales Tax under the Finance Act, 2024 to the All Pakistan Textile Mills Association (APTMA) member mills, saying that the Federal Board of Revenue (FBR) has devised three automated systems to streamline the payment system.

He was addressing a workshop organised by the All Pakistan Textile Mills Association (APTMA) for its member mills relating to Sales Tax budgetary measures especially those affecting textile industry.

Secretary General Mohammad Raza Baqir welcomed the visiting Commissioner IR at the APTMA Lahore office. A good number of representatives from the APTMA member mills attended the workshop.

Commissioner IR said the FBR has three systems, including FASTER, ERS and STARR to deal with refunds of Sales Tax.

He also explained the Sales Tax General Order (STGO) 9 of 2023 to the participants of the workshop.

According to him, the scheme of things under the Sales Tax law can be divided into three categories, namely legal provisions, automated systems and check for scrutiny and audit.

He said sections 8B, 10, 66 and 67 deal with refunds payment under the Sales Tax Act, 1990. Besides, rules under chapters V, VA, VB and VC spell out fundamentals of the refund scheme.

Earlier, Secretary General APTMA Mohammed Raza Baqir said the APTMA has decided to hold workshops to apprise and educate member mills about the tax system to avoid any future litigation from FBR field formations.

Representatives of member mills, dealing with tax matters, attended the workshop to discuss their concerns and get clarifications thereon from the senior FBR officer. They also raised queries about the delays in clearance of refund claims and STGO 9 of 2023, which were duly addressed by the visiting Commissioner IR.

Copyright Business Recorder, 2024