Provincial revenue authorities should also grant payment and return filing extension in line with the Federal Board of Revenue (FBR).
A leading Karachi-based chartered accountant Asif Kasbati told Business Recorder that the extension in filing of sales tax/FED payment had been given by the FBR for January 2020 till April 12, 2020.
This has been done to facilitate registered persons owing to cash flow shortage as no cash inflows, while outflows are material in the form of fixed costs including salaries, wages, rent, interest, etc.
In order to facilitate the services provider, the ICAP task force convener on federal indirect taxes, Asif Kasbati, was of the view that the provincial revenue authorities should also grant payment and return filing extension in line with the FBR, in order to avoid legal issues owing to lockdown (almost similar to public holiday as per General Clauses Act) and for facilitation.
He opined that it was likely that the extensions for February would be granted by all the provincial authorities, as the last payment date was falling under lockdown dates.