Sales Tax Act 1990: three years imprisonment for persons fail to get registration

KARACHI: Persons making taxable supplies but failed to get registration with tax department then such persons are liable to three years imprisonment, which may be extendable. Read more »

FBR identifies retailers taking undue benefits of present registration requirement

KARACHI: Federal Board of Revenue (FBR) has identified that large number of retailers are suppressing electricity consumption to avoid mandatory registration. Read more »

Sales Tax Act 1990: FBR may appoint special panels for audit

KARACHI: Federal Board of Revenue (FBR) has been empowered under sales tax law to appoint special audit panels for conducting audit of any registered person. Read more »

Sales Tax Act 1990: return filing requirement by registered persons

KARACHI: A sales tax registered person is required to file true and correct sales tax return on monthly basis by providing details of supplies and persons whom the supplies were made during... Read more »

Sales Tax Act 1990: tax officials authorized to access record

KARACHI: The sales tax law has authorized tax officials to access record maintain by registered persons for the purpose of investigation and audit. Read more »

Sales Tax Act 1990: six years record required to be maintained

KARACHI: A person, who is undertaking activities of taxable supplies, is required to maintain record and documents of past six years. Read more »

Sales Tax Act 1990: requirement of issuing tax invoice

KARACHI: A person making taxable supplies is required to issue serially numbered tax invoice at the time of making supply of goods. Read more »

Sales Tax Act 1990: maintaining record for taxable supplies

KARACHI: A person making taxable supplies is required to maintain record of goods and keep at his office for scrutiny by tax officials. Read more »

Sales Tax Act 1990: Invoice issued by suspended taxpayers not to be entertained for refund, input adjustment

KARACHI: Any invoice issued by a person, who is suspended or black listed by tax authorities, may not be acceptable for refund claim or input adjustment by another registered person. Read more »

FBR may redefine motor vehicle for withholding tax collection

KARACHI: Federal Board of Revenue (FBR) to recommend the government to redefine withholding tax on motor vehicles to bring construction and heavy vehicles into tax net. Read more »

Sales Tax Act 1990: persons required to get registration

KARACHI: All the persons engaged in making taxable supplies are required to get sales tax registration. Read more »