KARACHI (December 12 2003): The Central Board of Revenue (CBR), through an SRO, has made payment of three percent further tax mandatory for sales tax payment by traders. Earlier the tax, which is payable for dealing with the un-registered persons, was adjustable.
The SRO 1090 (1)/2003 provides that “in exercise of the powers, conferred by Section 50 of the Sales Tax Act, 1990, read with section thereof, the Central Board of Revenue is pleased to direct that the following further amendments shall be made in the Filing of Monthly Return Rules 1998.”
The amendment provides that the businessmen, dealing with un-registered persons will have to pay additional tax at the rate of three percent and the same would not be allowed as an input as was allowed earlier.
To implement the amendment, the CBR has issued a new format of the monthly sales tax returns, filed by businessmen on 15th of every month.
Commenting on the issuance of the new return form, Abdul Wahid Bandukda of Pakistan Readymade Garment Manufacturers and Exporters Association (Prgmea) said that new form had the provision for revision of any particulars even after the filing.
Earlier, there was a lengthy procedure and the filer had to pay fee for the revision of details, he pointed out.
He said the new return form also had a place to write e-mail address of the filer, which would make it easy for the sales tax authorities to contact the concerned person, if any more details were needed.
He urged the CBR to make the new return forms available on stationary shops so that the businessmen could get them well before the filing date of December 15.
Small traders did not have the facility to download the document from the CBR website, he said.