ISLAMABAD (July 29 2003) : The Central Board of Revenue (CBR) and ghee manufacturers have started developing parameters for sales tax audit of ghee/cooking oil units.
CBR Member Audit Pervaiz Amjad paid a visit to the regional office of Pakistan Vanaspati Manufacturers Association (PVMA) in Islamabad on Monday.
Member Audit and PVMA officials discussed different opinions to hammer out methodology for the verification of record for claiming sales tax refund.
Officials said that the parameters will be finalised in the next two days after which the audit of these units will be conducted to ascertain genuine refund.
The PVMA had called-off the strike on the assurance of Member Direct Taxes Vakil Ahmed Khan that the CBR will pay refund on the basis of findings of audit for which Member Audit Pervez Amjad has been assigned a special task.
The payment of refund on the basis of Member Audit reports will be binding on the CBR.
Member Audit will conduct audit of those ghee units, which have filed returns for refund.
Member Audit was asked on Monday to sit with the PVMA to evolve a mechanism for the audit and subsequent payment of refund.
The PVMA delegation agreed that the outcome of audit will be acceptable to all ghee units.