Sellers must retain CNIC information for six years

ISLAMABAD: Sales tax registered persons selling goods are required to keep record of Computerized National Identity Card (CNIC) details for six years. Sources in Federal Board of Revenue (FBR) said that the condition of CNIC against sales of goods had been implemented from August 01, 2019. “All the details of CNIC must be maintained by […]

by Mrs. Anjum Shahnawaz

Sales Tax Act 1990: requirement of issuing tax invoice

Apr 17

Exclusive, Taxation

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. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 23 of the Act explained the requirement of issuing tax invoice. Section 23: Tax Invoices Sub-Section (1): […]

by Faisal Shahnawaz