AIRLINK 157.39 Increased By ▲ 1.27 (0.81%)
BOP 9.94 Decreased By ▼ -0.07 (-0.7%)
CNERGY 7.11 Increased By ▲ 0.06 (0.85%)
CPHL 83.30 Decreased By ▼ -0.83 (-0.99%)
FCCL 44.80 Increased By ▲ 0.15 (0.34%)
FFL 14.98 Increased By ▲ 0.09 (0.6%)
FLYNG 36.00 Increased By ▲ 2.66 (7.98%)
HUBC 135.55 No Change ▼ 0.00 (0%)
HUMNL 12.85 Increased By ▲ 0.03 (0.23%)
KEL 4.38 Increased By ▲ 0.22 (5.29%)
KOSM 5.34 Increased By ▲ 0.27 (5.33%)
MLCF 72.20 Increased By ▲ 0.60 (0.84%)
OGDC 201.43 Increased By ▲ 1.21 (0.6%)
PACE 5.09 Increased By ▲ 0.04 (0.79%)
PAEL 43.85 Decreased By ▼ -0.04 (-0.09%)
PIAHCLA 16.95 Increased By ▲ 0.21 (1.25%)
PIBTL 8.98 Increased By ▲ 0.27 (3.1%)
POWER 14.72 Decreased By ▼ -0.19 (-1.27%)
PPL 149.38 Increased By ▲ 0.90 (0.61%)
PRL 29.47 Decreased By ▼ -0.08 (-0.27%)
PTC 20.90 Increased By ▲ 0.05 (0.24%)
SEARL 83.55 Increased By ▲ 0.08 (0.1%)
SSGC 39.67 Decreased By ▼ -0.36 (-0.9%)
SYM 14.91 Increased By ▲ 0.03 (0.2%)
TELE 7.05 Increased By ▲ 0.06 (0.86%)
TPLP 8.53 Increased By ▲ 0.15 (1.79%)
TRG 64.00 Increased By ▲ 0.37 (0.58%)
WAVESAPP 9.17 Increased By ▲ 0.30 (3.38%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.58 Increased By ▲ 0.12 (3.47%)
AIRLINK 157.39 Increased By ▲ 1.27 (0.81%)
BOP 9.94 Decreased By ▼ -0.07 (-0.7%)
CNERGY 7.11 Increased By ▲ 0.06 (0.85%)
CPHL 83.30 Decreased By ▼ -0.83 (-0.99%)
FCCL 44.80 Increased By ▲ 0.15 (0.34%)
FFL 14.98 Increased By ▲ 0.09 (0.6%)
FLYNG 36.00 Increased By ▲ 2.66 (7.98%)
HUBC 135.55 No Change ▼ 0.00 (0%)
HUMNL 12.85 Increased By ▲ 0.03 (0.23%)
KEL 4.38 Increased By ▲ 0.22 (5.29%)
KOSM 5.34 Increased By ▲ 0.27 (5.33%)
MLCF 72.20 Increased By ▲ 0.60 (0.84%)
OGDC 201.43 Increased By ▲ 1.21 (0.6%)
PACE 5.09 Increased By ▲ 0.04 (0.79%)
PAEL 43.85 Decreased By ▼ -0.04 (-0.09%)
PIAHCLA 16.95 Increased By ▲ 0.21 (1.25%)
PIBTL 8.98 Increased By ▲ 0.27 (3.1%)
POWER 14.72 Decreased By ▼ -0.19 (-1.27%)
PPL 149.38 Increased By ▲ 0.90 (0.61%)
PRL 29.47 Decreased By ▼ -0.08 (-0.27%)
PTC 20.90 Increased By ▲ 0.05 (0.24%)
SEARL 83.55 Increased By ▲ 0.08 (0.1%)
SSGC 39.67 Decreased By ▼ -0.36 (-0.9%)
SYM 14.91 Increased By ▲ 0.03 (0.2%)
TELE 7.05 Increased By ▲ 0.06 (0.86%)
TPLP 8.53 Increased By ▲ 0.15 (1.79%)
TRG 64.00 Increased By ▲ 0.37 (0.58%)
WAVESAPP 9.17 Increased By ▲ 0.30 (3.38%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.58 Increased By ▲ 0.12 (3.47%)
BR100 12,260 Increased By 111.5 (0.92%)
BR30 35,611 Increased By 216.9 (0.61%)
KSE100 114,690 Increased By 588.2 (0.52%)
KSE30 35,038 Increased By 229.7 (0.66%)

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a “checklist” for processing of condonation cases of time-limit for the taxpayers under Sales Tax Act 1990.

The “check list” has been specified in a sales tax circular issued by the FBR on Wednesday.

The taxpayers have to respond to 14 different types of questions of the FBR to qualify for condonation of time period under the “checklist”.

CIR empowered to condone time-limits

According to the sales tax circular, for purposes of disposal of requests for condonation of time limit under section 74 of the Sales Tax Act, 1990, the Board has prescribed a new procedure.

The registered person shall apply to the Commissioner-IR having jurisdiction for extension of time or period specifying the grounds for delay in terms of SR0.1444(1)/2024 dated 12.09.2024.

Where condonation beyond three years is involved, the Commissioner-IR concerned, after considering the grounds mentioned and any other information called for by him, shall send his categorical recommendation to the Board on the specified format, FBR added.

The Commissioner-IR concerned shall forward his recommendation to the Board within fifteen working days of the receipt of the application where the application is received in RTO/ CTO/ MTO/ LTO. In case the Commissioner IR calls for further information, the said period shall be reckoned from the date of receipt of such information.

After receipt of the recommendations from the Commissioner-IR, the Board shall examine the request and the recommendations and to communicate approval or rejection of the request to the Commissioner-IR as well as to the applicant.

This Circular supersedes Sales Tax Circular No.01/2024/IR Operations dated 04.03.2024, FBR added.

Copyright Business Recorder, 2024

Comments

Comments are closed.