Islamabad August 5 2021: Federal Board of Revenue (FBR) in its drive to integrate Tier-1 Retailers across the country, has issued Sales Tax General Order by which a system-based approach is being adopted to integrate non-Integrated Tier-1 Retailers with effect from August, 01 2021.
A List of identified Tier-1 non-Integrated Retailers has been placed at FBR's web portal. If these identified Tier-1 Retailers fail to integrate by August 15, 2021, they would be denied credit for input tax equal to 60 percent claimed in the Sales Tax return for the month of July 2021. If, however, a Tier-1 Retailer feels that it is not a Tier-1 Retailer in terms of of Sales Tax Act, 1990, it may get itself excluded from the list by applying to the Commissioner by August 10, 2021.
A L S O || R E A D
Government To Launch Talent Hunt Scheme
The list shall be updated every month and taxpayers who remain in the List shall be considered as non-Integrated Tier-1 Retailers and their input tax to the extent of 60 percent shall be disallowed as per the provisions of the Sales Tax Act, 1990.
Related Posts
