Section 33(9) of the Sales Tax Act, 1990, stipulates that individuals who obstruct officials of Inland Revenue in accessing records may face penalties ranging from Rs5,000 to Rs50,000.
(more…)Tag: Sales Tax Act 1990
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Penalty for failure to maintain sales tax record
The Sales Tax Act, 1990, empowers authorities to impose penalties on individuals or businesses failing to maintain records as required under Section 22 and Section 24 of the Act.
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Imprisonment for selling goods without tax registration
A person is liable to imprisonment where he is required to get registered for sales tax under Section 14 of the Sales Tax Act, 1990, but he makes supplies without making an application for the registration.
The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021.
Following is the text of section 33(7) of the Sales Tax Act, 1990:
33. Offences and penalties.– Whoever commits any offence shall, in addition to and not in derogation of any punishment to which he may be liable under any other law, be liable to the penalty mentioned against that offence: –
7. Any person who is required to apply for registration under this Act fails to make an application for registration before making taxable supplies.
Such person shall pay a penalty of ten thousand rupees or five per cent of the amount of tax involved, whichever is higher:
Provided that such person who is required to get himself registered under this Act, fails to get registered within sixty days of the commencement of taxable activity, he shall, further be liable, upon conviction by a Special Judge, to imprisonment for a term which may extend to three years, or with fine which may extend to an amount equal to the amount of tax involved, or with both.
(Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)
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Penalty for repeated miscalculation in sales tax return
The Federal Board of Revenue (FBR) has reinforced its commitment to maintaining the integrity of the tax system by imposing penalties on individuals who repeatedly make erroneous calculations in their sales tax returns.
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Three-year jail for defaulting sales tax payment
A special judge may award imprisonment up to three years to a person who defaulted sales tax payment despite an opportunity from the tax authorities to pay the amount under Section 3, Section 6, Section 7 and Section 48 of the Sales Tax Act, 1990.
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Penalty for failure to notify changes in registration details
Section 33(4) of the Sales Tax Act, 1990 has revealed penalty for failure to notify changes in registration details by taxpayers.
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Penalty for issuing unauthorized sales tax invoice
The Federal Board of Revenue (FBR) has intensified efforts to curb unauthorized practices in the realm of sales tax by implementing penalties for the unauthorized issuance of sales tax invoices.
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Penalty for non issuance of sales tax invoice
Section 33(2) of the Sales Tax Act, 1990 has imposed a penalty on taxpayers for non issuance of sales tax invoice to buyers of goods or services.
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Penalty for failure in filing sales tax return
The Federal Board of Revenue (FBR) has introduced penalty for failure to file sales tax returns within the stipulated timeframe under Section 33(1) of the Sales Tax Act, 1990.
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FBR authorized to appoint special panels for tax audit
Section 32A of Sales Tax Act, 1990 authorized the Federal Board of Revenue (FBR) to appoint special panels for conducting sales tax audit.
The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021.
Following is the text of section 32A of the Sales Tax Act, 1990:
32A. Audit by Special Audit Panels. (1) The Board may appoint as many special audit panels as may be necessary, comprising two or more members from the following, –
(a) an officer or officers of Inland Revenue;
(b) a firm of chartered accountants as defined under the Chartered Accountants Ordinance, 1961 (X of 1961);
(c) a firm of cost and management accountants as defined under the Cost and Management Accountants Act, 1966 (XIV of 1966); or
(d) any other person as directed by the Board, to conduct audit of a registered person or persons, including audit of refund claims and forensic audit and the scope of such audit shall be determined by the Board or the Commissioner Inland Revenue on a case-to-case basis. In addition, the Board may, where it considers appropriate, also get such audit conducted jointly with similar audits being conducted by provincial administrations of sales tax on services.
(2) Notwithstanding that records of a registered person have been audited by an officer appointed under section 30, the Board or a Commissioner may direct special audit panel appointed under sub-section (1) to audit the records of any registered person.
(3) Every member of special audit panel appointed under sub-section (1), shall have the powers of an officer of Inland Revenue under sections 25, 37 and 38.
(4) Each special audit panel shall be headed by a chairman who shall be an officer of Inland Revenue.
(5) If any one member of the special audit panel, other than the chairman, is absent from conducting an audit, the proceedings of the audit may continue and the audit conducted by the special audit panel shall not be invalid or be called in question merely on the ground of such absence.
(6) The Board may prescribe rules in respect of constitution, procedure and working of special audit panel.
(Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)