The Federal Board of Revenue (FBR) has allowed the taxpayers to file single sales tax return for tax period of June, 2007, following changes in sales tax rates on different items.
According to a sales tax Circular, No 1/2007, issued on Monday, some registered persons had approached the Board saying that due to issuance of SRO 466(I)/2007 of June 9, 2007 and subsequent SRO 644(I)/2007 of June 27, 2007 the rates of sales tax for various items have been changed twice during a tax period. Resultantly, they would be required to file three different returns, which might create hardship for them.
So, the board has given an option to the registered persons to file a single sales tax return for the tax period of June 2007. The supplies/purchases charged to 15 percent may be shown in the relevant column whereas supplies/purchases charged to 17.5 percent and 20 percent may be clubbed and mentioned in the column relating to ''others'' as provided in the return. It may be ensured that the net tax due as a result of the application of different rates is duly paid, the circular concluded.
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