A major facilitative measure for the business community under the 'reformed general sales tax' (RGST) is the publication of registered persons' list on the FBR website to encourage documented business transactions among the registered units. Sources told Business Recorder here on Saturday that the FBR has introduced section 50 in the General Sales Tax Bill-2010 to publish list of registered persons on its website for payment of sales tax under the GST Act.
It shall not be reasonable for a person to believe that another person is registered under this Act if that (other person) is not in the list placed on the website of the Board. It shall be reasonable for a person to believe that another person is registered under this Act if that other person is on the list placed on the web site of the Board, section 50 added.
This new provision would guide the taxpayers to trade with registered persons on the basis of updated data on the FBR website. The electronic filing of sales tax returns would be facilitated due to availability of updated data of the registered persons on the FBR website. When the registration of a person is cancelled, or suspended, the taxpayer would be well aware to stop business with the non-compliant person in the presence of the list on the FBR website.
According to Chapter XV (Transition) of the GST Bill 2010, the Board shall, on the day this Act comes into force, publish a list of persons registered for sales tax in accordance with section 50. Similarly, section 49 (suspension of registration) of the GST Bill clearly says the suspension of registration shall be affected by removing his from the list of registered persons published on the Board's website.