KARACHI: The Federal Board of Revenue (FBR) has issued four Sales Tax General Orders for four specified sectors ie Tobacco, Sugar, Cement and Fertiliser under the provisions of Section 40C(2) of the Sales Tax Act, 1990.
The development comes after the license of the Track and Trace system was awarded to the successful bidder.
As per FBR, these laws mandate FBR to notify the date for the implementation of Electronic Monitoring of productions and sales of goods in the manner prescribed in the law on all manufacturing sites (unless otherwise provided) of all the notified sectors.
FBR has notified that no Product shall be allowed to be removed from a production site/ factory premises/ manufacturing plant or import station without affixation of tax stamps/ Unique Identification Marking (UIMs) with effect from 1st July, 2021, which are to be obtained/procured from and applied by FBR’s Licensee M/s. AJCL/MITAS/Authentix Consortium.
The tax collection authority has directed all manufacturers of specified products to make necessary arrangements for the importation of applicators and other equipment required for successful installation and implementation of Track and Trace System at their production facilities.
News Stories Posted by ARY News Digital Team
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