ISLAMABAD: The Federal Board of Revenue (FBR) has empowered Commissioner-Inland Revenue (IR) to condone time-limits specified under any of the provisions of the Sales Tax Act 1990 to facilitate sales taxpayers.
In this regard, the FBR has issued S.R.O.1444(I)2024 here on Thursday to supersede notification No' S.R.O. 394(l)2009.
According to the notification, the FBR has empowered Commissioner-IR having jurisdiction to condone time-limit where any time or period has been specified under any of the provision of the said Act or rules made there under.
During this period, any application of taxpayer is to be made or any act or thing is to be done, so that he may, in any case or class or cases, permit such application to be made or such act or thing to be done within such time or period as he may consider appropriate.
This is subject to the following limitations and conditions, namely:-(i); The registered person concerned or any person authorized by him shall submit an application to the Commissioner-IR having jurisdiction stating therein the grounds of delay for condonation of the time-limit.
(ii); If no further information or documents are required in respect of the case, the Commissioner-IR shall take into consideration the grounds of delay and decide the case within thirty days from the date of receipt of the application.
(iii); If the Commissioner-IR is of the opinion that further information and documents are required in respect of the case, he may ask for submission of such information and documents and, after receipt of the requisite information and documents, take the case into consideration and decide the case within 45 days of the receipt of the application.
(iv); The Commissioner-IR shall decide the case on merit and record the reasons for approval or rejection of the application.
(v); In case of approval of the application, the Commissioner-IR may condone the time-limit up to three years.
The Commissioner-IR shall, not later than seventh day of every month, furnish in soft form or otherwise to the concerned Chief Commissioner-IR a report of cases processed in the calendar month, on the specified format, FBR added.
Copyright Business Recorder, 2024
Comments
Comments are closed for this article.