FBR takes action against integrated tier-1 retailers for non compliance

FBR takes action against tier1 integrated retailers for non compliance

Large Taxpayers Office (LTO) Lahore has taken action against the integrated retailers on discontinuation from the Point of Sale (POS) system despite integration with the Federal Board of Revenue (FBR).

Focal person responsible for POS at LTO Lahore Shahzad Ali Khan told that those retailers were not printing FBR invoice number and QR code on the invoices generated to the customers. The FBR has recently issued a standardized format of the Sales Tax invoice detailing the “minimum requirements” of the Sales Tax Invoice.

Penalty to tier-1 retailers for Non compliance

It is informed that the “Invoice No” at the top of the sales tax invoice is the “Unique serial invoice number” as per law and will describe the Tier-1 retailer’s own sequential invoice number. FBR has imposed fine up to Rs500,000 against the violation of the law.

Shahzad also said that a large number of retailers were not in compliance with the FBR rules of point of sales (POS). However, on imposition of fines retailers have started to full compliance with the FBR requirements.

He said the LTO Lahore has ensured complete integration of big retailers both in bakery and garments sectors. We are trying to a 100 percent integration of major retailers in both the sectors, he highlighted.

Retailers are reluctant to compliance

According to him, the LTO Lahore was trying there best that field staff should ensure 100 percent compliance with the FBR requirements on POS integration. However, he accepted that retailers in the sectors like chemicals, sales, service and spare parts outlets of major car manufacturers, jewelers and electronic appliances are still reluctant in the integration with POS.

He said tax notices for compliance have been issued to those not complying with the POS system and further explained the hope that they would be integrating with the POS system soon. Currently, most of them have gone in court to challenge the notices before the court of law, he further added.

Top Tax Consultants Tax Return submission Last Date
Ads:

Tier-1 Retailers | Point of Sales System | List of Tier-1 Retailers | FBR | Tier-1 Retailers Integration |

Vinkmag ad

Admin

Read Previous

Government appoints seventh chairman FBR to Dr Muhammad Ashfaq Ahmed

Read Next

FBR issues SRO to allow conditional input tax credit for supplies from AJK and GB

Leave a Reply

Your email address will not be published. Required fields are marked *

Share it !