Retailers to collect invoice fee from customers

Retailers to collect invoice fee from customers

KARACHI: The Tier-1 retailers will collect one rupee from customers against issuance of invoice from their point of sale (POS) machine.

A verified POS invoice is mandatory for participating in a prize scheme that was recently announced by the Federal Board of Revenue (FBR).

The FBR on Monday issued guidelines for making operational the SRO 1006(I)/2021 dated August 2021. The FBR said that a standard format of the sales tax invoice had been issued detailing the ‘minimum requirements’ of the sales tax invoice.

It is informed that the Invoice Number at the top of the standardized invoice is the ‘unique sequential invoice number’ as per sub rule (5) of Rule 150 ZEB of the Sales Tax Rules, 2006 and will portray the Tier-1 retailer’s own sequential invoice number.

The FBR invoice number shall be the 18 digit FBR’s fiscal invoice number as per Sub Rule (6) of Rule 150ZEB of the Sales Tax Rules, 2006.

 The POS service fee of Re1 per invoice shall be collected by the Tier-1 retailers from the customer and shall be deposited along with the monthly sales tax return, which is being amended to include a row for ‘POS service Fee’.

This row shall be auto populated by the system based on the invoices generated and recorded at the FBR’s computerized system.

The POS service fee collected each month shall be deposited by the tier-1 retailers in a separate head of account.

The POS invoice is linked to the prize scheme which was issued through SRO 1005(I)/2021.

Under this scheme, the customers of integrated tier-1 retailers, whose names and CNICs are notified through a random computerized draw shall be entitled to prize in respect of their purchases from the Tier-1 retailers.

As per Sales Tax Act, 1990, the Tier-1 retailers are: a retailer operating as a unit of a national or international chain of stores; a retailer operating in an air-conditioned shopping mall, plaza or centre, excluding kiosks; a retailer whose cumulative electricity bill during the immediately preceding twelve consecutive months exceeds Rs1.2 million;  a wholesaler-cum-retailer, engaged in bulk import and supply of consumer goods on wholesale basis to the retailers as well as on retail basis to the general body of the consumers; a retailer, whose shop measures one thousand square feet in area or more or two thousand square feet in area or more in the case of retailer of furniture; and a retailer who has acquired point of sale for accepting payment through debit or credit cards from banking companies or any other digital payment service provider authorized by State Bank of Pakistan.

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