AIRLINK 74.64 Decreased By ▼ -0.21 (-0.28%)
BOP 5.01 Increased By ▲ 0.03 (0.6%)
CNERGY 4.51 Increased By ▲ 0.02 (0.45%)
DFML 42.44 Increased By ▲ 2.44 (6.1%)
DGKC 87.02 Increased By ▲ 0.67 (0.78%)
FCCL 21.58 Increased By ▲ 0.22 (1.03%)
FFBL 33.54 Decreased By ▼ -0.31 (-0.92%)
FFL 9.66 Decreased By ▼ -0.06 (-0.62%)
GGL 10.43 Decreased By ▼ -0.02 (-0.19%)
HBL 114.29 Increased By ▲ 1.55 (1.37%)
HUBC 139.94 Increased By ▲ 2.50 (1.82%)
HUMNL 12.25 Increased By ▲ 0.83 (7.27%)
KEL 5.21 Decreased By ▼ -0.07 (-1.33%)
KOSM 4.50 Decreased By ▼ -0.13 (-2.81%)
MLCF 38.09 Increased By ▲ 0.29 (0.77%)
OGDC 139.16 Decreased By ▼ -0.34 (-0.24%)
PAEL 25.87 Increased By ▲ 0.26 (1.02%)
PIAA 22.20 Increased By ▲ 1.52 (7.35%)
PIBTL 6.80 No Change ▼ 0.00 (0%)
PPL 123.58 Increased By ▲ 1.38 (1.13%)
PRL 26.81 Increased By ▲ 0.23 (0.87%)
PTC 14.01 Decreased By ▼ -0.04 (-0.28%)
SEARL 58.53 Decreased By ▼ -0.45 (-0.76%)
SNGP 68.01 Decreased By ▼ -0.94 (-1.36%)
SSGC 10.47 Increased By ▲ 0.17 (1.65%)
TELE 8.39 Increased By ▲ 0.01 (0.12%)
TPLP 11.05 Decreased By ▼ -0.01 (-0.09%)
TRG 63.21 Decreased By ▼ -0.98 (-1.53%)
UNITY 26.59 Increased By ▲ 0.04 (0.15%)
WTL 1.42 Decreased By ▼ -0.03 (-2.07%)
BR100 7,941 Increased By 103.5 (1.32%)
BR30 25,648 Increased By 196 (0.77%)
KSE100 75,983 Increased By 868.6 (1.16%)
KSE30 24,445 Increased By 330.8 (1.37%)

The Federal Board of Revenue (FBR) has launched a simplified sales tax registration system for new applicants under which FBR will allocate the Sales Tax Registration Number (STRN) within seconds of the submission of application.
Addressing a press conference here at the FBR House on Tuesday, FBR Member Inland Revenue Policy Dr Hamid Ateeq Sarwar and FBR Member Information Technology Mehmood Aslam said that a major policy shift has been made in providing new sales tax registration numbers to the new taxpayers. Now, the STRN would be issued without any physical interaction with the tax department.
"There would be no queue for filing of sales tax applications and the STRNs would be issued instantly," Mehmood Aslam said.
The FBR had received complaints of harassment from the taxpayers, who also said that they have to visit the tax department repeatedly to obtain STRNs. To address the concerns of the taxpayers, the FBR has totally revised the sales tax registration system and issued a simplified procedure.
The step-wise procedure revealed that the applicant must be holder of National Tax Number (NTN). However, the applicants of individuals' category can provide their computerised national identity card (CNIC) numbers. Taxpayers have been given facility to file sales tax registration application through the 'IRIS' system or mobile application. The applicant will fill form and submit minimum documents with the sales tax application and FBR will issue STRN immediately after submission of documents.
The taxpayer has to visit the nearest Nadra's authorised E-Sahulat Centre for biometric verification within 30 days of allocation of number. In case the applicant does not get biometric verification, the system will make him 'inactive' till he does so, the FBR member IT said.
Explaining the ST registration through the IRIS, the member IT further informed that the new applicant will open the simplified sales tax registration form. The applicant will fill in his name and the system would auto load the information. However, if the applicant is doing new business, the system will also add account number and property. The applicant will select category like manufacturer or other, select member/director for verification (in case of AOP/company), add bank account, business activity and business address, and attach required documents for submission.
The applicant would also submit the bank certificate for the verification of his account declared for sales tax registration, he said.
In case of manufactures category, Mehmood Aslam said that the manufacturer has to submit image of the installed machinery and manufacturing premises.
To a query, the FBR member IT said that the FBR will not conduct physical verification of the manufacturing premises, but it will only be done through Geotagging.
FBR Member Inland Revenue Operations Seema Shakil said that the FBR will do post-verification of the manufactures to avoid any misuse of the facility of sales tax registration.

Copyright Business Recorder, 2019

Comments

Comments are closed.