The Federal Board of Revenue (FBR) has made it mandatory for the Inland Revenue officers (Assistant Commissioners) to complete physical verification of declared premises within three working days in case of manufacturer and within seven days in case of non-manufacturer for sales tax registration. Through a notification, the FBR has made amendment to the Sales Tax Rules, 2006 relating to registration procedure here on Tuesday.
The biometric verification of the applicant, being the owner, or authorised member or partner, or authorised director at the Regional Tax Office (RTO) has also been made compulsory by the FBR. According to the FBR, physical verification of premises shall be carried out by an officer not below the rank of Assistant Commissioner and shall be completed within three working days in case of manufacturer and with seven days in case of non-manufacturer.
The federal government has amended rule 5 & 5A of the Chapter-I, Sales Tax Rules, 2006 relating to registration process whereby certain requirements has been added / amended. Firstly, the partnership dead and list of franchises shall duly be required if the same are available or applicable. Secondly, the application for registration can be submitted online as well as in the RTOs. Thirdly, the requirement of GPs tagged photographs may not be implemented at this stage. Fourthly, the Additional Commissioners should supervise the physical verification process and approve registration applications where manual approval is involved.
According to the SRO, the documents as prescribed in the preceding sub-rule shall be submitted online through the computerised system or by visiting the concerned RTO. In either case, the original copies of all documents shall be presented in RTO for verification purpose before the application is processed by the system. The applicant, being the owner, or authorised member or partner, or authorised director, as the case may be, shall visit the concerned RTO for biometric verification.
The process leading to determination of risk score shall be completed within one working day of submission of complete application and biometric verification, whereas the scrutiny, Including physical verification of premises to-be carried out by an officer not below the rank of Assistant Commissioner, in high risk cases shall be completed within three working days in case of manufacturers and within seven working days in case of non-manufacturers, rules added.
Through another notification, the FBR has also increased rate of regulatory duty on import of Iron and Steel finished products. Ten percent RD has been imposed on the import of Aluminum alloys till June 30, 2016. The RD has been increased from 10-20 percent to 30 to 35 percent on the import of different types of Iron and Steel finished products.
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