The Federal Board of Revenue (FBR) has specified due dates for tax payments and filing of monthly sales tax returns by different categories of taxpayers including Independent Power Producers(IPPs). According to the amendments made by the FBR in Sales Tax Rules 2006, for the registered persons specified, the due dates shall be as indicated in the table of the amended rules.
The FBR has issued SRO 918 (1)/2019 to specify five categories of taxpayers and due dates for tax payments and filing of monthly sales tax returns by them. For electricity distribution companies, the due date for tax payment would be 18th of the month following the tax period in which the bill or invoice has been issued for the supplies made during the billing period. The due date for return filing would be 21st day following the 18th day as specified above.
In case of Independent Power Producers, the due date for tax payment would be 22nd day of the month following the tax period to which sales tax invoice relates. The due date for return filing would be 25th day following the 22nd day as specified.
For gas transmission and distribution companies, the due date for tax payment would be 15th of the month following the tax period in which the bill or invoice has been issued for the supplies made during the billing period. The due date for return filing would be 18th day following the 15th day as specified. For petroleum exploration and production companies, the due date for tax payment would be 18th of the month following the tax period in which supplies were made. The due date for return filing would be 21st day following the 18th day as specified.
In case of CNG dealers (on quarterly basis), the due date for tax payment would be 15th day of the month following the end of quarter of the financial year. The due date for return filing would be 18th day following the 15th day as specified for CNG dealers (on quarterly basis).
Comments
Comments are closed.