Sunday, 22 December 2024
Trending
tax-refund-fbr-faster
TAXATION

FBR allowed to registered persons to file non-export refund claims

The Federal Board of Revenue (FBR) has allowed registered persons to file non-export refund claims through the STARR system at tax offices or the Expeditious Refund System (ERS) by June 30, 2021.

The FBR issued instructions to the field formations on non-export and carry forward based sales tax refunds. The decision has been taken for the convenience of taxpayers, who are unable to get a refund through the FASTER system, which has limited scope.

FBR upgrades FASTER to FASTER PLUS system for issuance of Refunds | ALSO READ

According to the FBR, registered individuals claiming non-sales and / or input tax are required to proceed with sales tax refund under Rule 34 of the Sales Tax Rules 2006, along with Form 7A. You have to file a claim by filing Sales tax return. However, the said form is still not eligible and registered persons claiming a refund under the above principle face difficulties in submitting a refund claim through Form STR-7A. At the same time, the fully automated sales tax e-refund (Faster) system lacks the ability to copy multiple tax period data or execute claims where there is no export.

Top-Tax-Consultants-Lahore-Pakistan-Global-Tax-Consultants
A d v e r t i s e m e n t

Now, therefore, in order to remove the difficulty in the implementation of the provisions of the Code and in the exercise of the power conferred under Section 55 of the Sales Tax Act, 1990, the Board allowed to file carry forward based or non-export related refund at STARR or Expeditions Refund System (ERS) at tax offices by 30 June 2021 through RCPS. The FBR added that field formations advised by law to receive, process and dispose of such refund claims.

See also  Govt to impose 17% GST on 140 goods in the mini budget

Source | Sales Tax Refunds | FBR | Federal Board of Revenue |

LATEST POSTS

  • ایف بی آر نے ٹیکسوں کی ادائیگیوں کا نیا سسٹم متعارف کرا دیا
    FBR introduces ePayment 2.0 ایف بی آر نے حال ہی میں ایک نیا اور بہتر ٹیکس ادائیگی کا نظام متعارف کرایا ہے جس کا نام “ای پیمنٹ 2.0” ہے۔ یہ نظام آئی آر آئی ایس 2.0 پورٹل پر دستیاب ہے،…
  • Tax Advice for 2024: Do not File Incomplete Tax Returns
    Tax Advice for 2024: Do not File Incomplete Tax Returns Tax Advice for 2024: Do not File Incomplete Tax Returns. Whenever tax season approaches tax filer is busy in collecting and discussing his tax returns working with tax consultant and…
  • Extension of Date in Submission of Sales Tax and Federal Excise Return
    Extension of Date in Submission of Sales Tax and Federal Excise Return Extension of Date in Submission of Sales Tax and Federal Excise Return. Recently the Federal Board of Revenue (FBR) has extended the last date for submission of Sales…
  • Tax Concept: Meaning & Types of Taxes in Pakistan
    Tax Concept: Meaning & Types of Taxes in Pakistan Tax Concept: Meaning & Types of Taxes in Pakistan. In Pakistan, tax concepts refer to the principles of taxes that control the taxation system in the country. Here is the list…
  • Rs 750 Prize Bond Draw List 15 April 2024
    Rs 750 Prize Bond Draw List 15 April 2024 Rs 750 Prize Bond Draw List 15 April 2024. The 98th draw for the Rs. 750 prize bond is scheduled to take place in Hyderabad on April 15, 2024. Here are the details: Prizes of Rs 750 Prize…
  • Active Tax Payer List 15 April 2024
    Active Tax Payer List 15 April 2024 Active Tax Payer List 15 April 2024. Following is the active tax payer list issued by the Federal Board of Revenue (FBR) on 15th April 2024. This list contains the taxpayers details who…

Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: