The Central Board of Revenue (CBR) has issued simplified forms of quarterly and annual statements for commercial importers engaged in import and local supply of zero-rated items.
The Board on Tuesday issued Sales Tax Circular No 5 of 2006 to prescribe new 'Annex 'B' and 'C' for the importers dealing in zero-rated products.
Under the Sales Tax Special Procedures, 2006, commercial importers are required to submit detailed quarterly statements as Annex 'B' and annual statement as Annex 'C' on the prescribed format. The objective of issuing the Annexures B and C is to ensure payment of sales tax on the basis of actual value-addition made by commercial importers during a financial year.
A number of commercial importers engaged in import and supply of zero-rated items had approached the Board taking the plea that in their case there was no question of subsequent payment of sales tax on the basis of value-addition; thus a simplified procedure be adopted for such importers.
Keeping in view the plea of the commercial importers, the Board has prepared Annex B and C, as given below, for importers to be submitted under ST Special Procedures Rules, 2006, in lieu of the existing 'Annex B and C'.
ANNEX-B
QUARTERLY STATEMENT OF COMMERCIAL IMPORTERS UNDER ZERO-RATED REGIME
SALES TAX REGISTRATION NO.________________________________________________
NAME______________________________________________________________________
ADDRESS____________________________________________
FOR THE QUARTER FROM: (Month/Year) __________ to (Month/Year) ___________
IMPORTS DETAILS:
S. No.
-- Goods Declaration number and date
-- Description of zero-rated imported goods
-- Value of zero-rated imported goods.
-- Quantity of zero-rated imported goods.
SUPPLIES DETAILS:
S. No.
-- Name and registration number of the buyer
-- Description of zero-rated goods supplied
-- Value of zero-rated goods supplied.
-- Quantity of zero-rated goods supplied.
SIGNATURE _______________________________________________
NAME ____________________________________________________
DESIGNATION _____________________________________________
N.I. CARD NO. ___________________________________________
DATE ____________________________________________________
Annex-C
ANNUAL STATEMENT OF COMMERCIAL IMPORTERS
UNDER ZERO-RATED REGIME
SALES TAX REGISTRATION NO._______________________________
NAME_____________________________________________________
ADDRESS__________________________________________________
PERIOD: 1ST JULY _____________ to 30TH JUNE, ____________
DESCRIPTION OF ZERO-RATED GOODS IMPORTED:
(1)______________(2) _______________(3)__________________
QUANTITY OF GOODS IMPORTED : (1)_____(2)_____(3)_________
VALUE IN (RS.) _________________________________________
SIGNATURE _______________________________________________
NAME ____________________________________________________
DESIGNATION _____________________________________________
N.I. CARD NO. ___________________________________________
DATE ____________________________________________________