LCCI for one-year relaxation of CNIC condition

LAHORE: Lahore Chamber of Commerce & Industry (LCCI) on Wednesday urged the government to relax condition of disclosing CNIC for sale to unregistered persons for one year.

Addressing a gathering of businessmen here, LCCI President Almas Hyder apprehended, "Trading activities will come to a grinding halt if condition of disclosing CNIC for sales to unregistered persons is not delayed for at least one year."

He added that disadvantage of tax relating supplies made to an unregistered person without disclosing his CNIC was a burden on traders with inherent complications.

Under the amendment introduced by the government in the Sales Tax Act, he pointed out, sellers were required to include the buyer's CNIC number on the sales tax invoices. Condition of disclosing CNIC for sale to unregistered person would result in a potential misuse of CNICs and these could be used in fraudulent transactions of billions of rupees as reported from time to time, while buyers would also prefer purchases from unregistered sellers.

The meeting was also attended by LCCI Senior Vice President Khawaja Shahzad Nasir, Vice President Faheem-ur-Rehman Saigal and Executive Committee members.