| FBR Guidelines About Sales Tax Returns |
ISLAMABAD: The Federal Board of Revenue (FBR) has issued directives to facilitate taxpayers in issuing sales tax refunds within 72 hours.
The FBR issued the Consumer Guidelines for listing the stock position details of Annexure-H, file cell tax registered persons. This commitment is mandatory for the refund claimants and they can submit a statement within the specified tax period within 120 days from the date of filing the return. Other registered persons are encouraged to provide these details, the FBR said.
The FBR advised sales tax enrollees to upload transaction transactions for the month, namely purchase, import and consumption.
“Opening and closing balances are automatically calculated / calculated. The same goes with uploading Excel otherwise an object on the duplicate value will be created.”
The opening and closing balance of sales tax returns should be linked to annexure-H, the FBR said.
It is also advised that sales tax registrants be used / exported by the Annexure-H column during the month (use the domestic zero rate / export tax for a refund amount).
The FBR advised sales tax enrollees to use domestic sales in relation to the output tax declared in lieu of a used / sold column (domestic tax payable) during this month.
“Mark Invoice Input Tax Invoice – Related to SRO 490. Do not attach / claim to GD of imports and / and exports that have already been claimed or not relevant.”
FBR said that credit brought forward from the previous claim will automatically be available in Annexure-H.
FBR has added new items to the list of items: sizing, yarn dyeing, yarn doubled, knitting, knitting, processing (bleaching, dyeing and printing), sewing, embroidery.
Since July 2019, the RCPC has been replaced by Annexure-H for a sales tax return system for all types of sales tax claims, the FBR said.
“Properly filled appendix – H will ensure processing within 72 hours without objection and data anomalies.”
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