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FBR to Bring More Sectors in E-Sales Tax Integration System

FBR to Bring More Sectors in E-Sales Tax Integration System.

The Federal Board of Revenue (FBR) is set to expand the electronic sales tax integration system to include new sectors and industries, building on the success observed with large retailers (Tier-I retailers) in Pakistan.

The implementation of this new procedure involves the electronic transmission of sales tax invoices by registered individuals, with specifics to be determined and notified by the Board through an official Gazette.

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As outlined in a recent notification, integrated suppliers are required to issue real-time verifiable electronic sales tax invoices for each taxable supply and service.

These invoices must contain information as prescribed under section 23 of the Act, and the registered person should retain records and documents for six years on electronic media.

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Furthermore, the integrated supplier must adhere to all requirements specified by the Board for integration, recording, storage, issuance, and transmission of verifiable electronic invoices in real-time.

This includes providing any necessary hardware, software, or connectivity, as per the rules governing the electronic invoicing system.

The integrated supplier is obligated to grant physical and online remote access to the records, system, logs, and documents maintained in electronic form when required by the officer of Inland Revenue.

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Any contravention of the provisions may lead to penal action as stipulated under the relevant sections of the Act.

Integrated suppliers can apply for an extension of time for compliance, subject to approval by the Commissioner of Inland Revenue.

The Commissioner of Inland Revenue has the authority to allow an extension in time, up to sixty days in aggregate with fifteen-day intervals, for integration or compliance under this chapter from the date of issuance of the notification.

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During such extended periods, the integrated supplier may continue to issue paper invoices until the Commissioner of Inland Revenue has granted approval.

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