ISLAMABAD: The Federal Board of Revenue (FBR) has advised Tier-1 Retailers to integrate their systems with the revenue authority, failing which they would be denied credit for input tax equal to 60 per cent, claimed in the sales tax return for the month of July 2021.
As per details, the FBR, in its drive to integrate Tier-1 Retailers across the country, has issued Sales Tax General Order No 1 of 2022 by which a system-based approach is being adopted to integrate non-integrated Tier-1 retailers with effect from August 1, 2021.
A list of identified Tier-1 non-integrated retailers has been placed at FBR’s web portal, and if these retailers fail to integrate by August 15, 2021, they would be denied credit for input tax.
If, however, a Tier-1 Retailer feels that it is not a Tier-1 Retailer in terms of Section 2(43A) of Sales Tax Act, 1990, it may get itself excluded from the list by applying to the commissioner by August 10, 2021.
The list shall be updated every month and taxpayers who remain in the list shall be considered as non-Integrated Tier-1 Retailers and their input tax to the extent of 60 per cent shall be disallowed as per the provisions of sub-section (9A) of Section 3 of the Sales Tax Act, 1990.
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The list shall be updated every month and taxpayers who remain in the list shall be considered as non-Integrated Tier-1 Retailers and their input tax to the extent of 60 per cent shall be disallowed as per the provisions of sub-section (9A) of Section 3 of the Sales Tax Act, 1990.
Kindly send me updating list of tier-1 thanks
can you list the tier 1 retailers..thank you