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 »
KARACHI: Federal Board of Revenue (FBR) has identified that large number of retailers are suppressing electricity consumption to avoid mandatory registration. Read more »
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 »
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 »
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 »
KARACHI: A person, who is undertaking activities of taxable supplies, is required to maintain record and documents of past six years. Read more »
KARACHI: The banking deposits have reached to all time high at Rs13.45 trillion by end of March 2019 amid reports of government initiatives of Treasury Single Account (STA). Read more »
KARACHI: A person making taxable supplies is required to issue serially numbered tax invoice at the time of making supply of goods. Read more »
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 »
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 »
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 »
KARACHI: All the persons engaged in making taxable supplies are required to get sales tax registration. Read more »