FinanceNews

Provisional sales tax registration allowed

ISLAMABAD (April 07 2004): Noticing the delay in sales tax registration of importers and manufacturers, the Central Board of Revenue (CBR) has directed all collectors of sales tax to immediately issue provisional registration certificates to the manufacturers and importers.

This is subject to the condition that all the requisite documents should be submitted by the applicants.

The CBR on Tuesday issued a directive to all collectors of sales tax saying, “It has been decided that in all cases of registration in the categories of manufacturer or importer, the Collectorate may immediately issue provisional registration certificates provided all the requisite documents have been submitted.

Subsequently, verification of the documents shall be undertaken by the Collectorate, and if found correct, proper registration certificate may be issued to them.”

Sources said that investors could import sales tax-free apparatus and appliances under SRO.987(I)99 of August 30, 1999. However, the importer should hold a valid sales tax registration category as “manufacturer” for claiming GST exemption.

Moreover, the importers should also declare sales tax registration number, along with other import documents.

A number of Karachi-based investors who wants to import machinery/equipment demanded provisional status of manufacturer to qualify for concession under SRO.987(I)99.

New importers applying for setting up manufacturing unit can not submit sales tax registration application prior to import of machinery/equipment.

Taking prompt action to facilitate the business community, the CBR has issued a directive to all collectors of sales tax that in case the collector is satisfied, on the basis of documents submitted by the applicant, that the importer genuinely intends to set up a manufacturing unit, he can provisionally register him as manufacturer.

Later, the provisional registration would be converted into proper registration.

Related Articles

Back to top button
Stay up to date
Don't miss out on the latest industry news and articles
Stay up to date
Don't miss out on the latest industry news and articles
You are Subscribed!
Your subscriptions means a lot to us.
Don't miss out on the latest Industry news
You are Subscribed!