KARACHI: Medium Taxpayers’ Office (MTO) on Thursday held a meeting with the representatives of pharma manufacturers to discuss a new sales tax beneficial procedure.

According to the details, chief commissioner Inland Revenue, Mir Badshah Khan Wazir briefed the participants about benefits of changes in sales tax law provided by the government to pharmaceutical manufacturers including adjustment of input tax, sales tax refunds through FASTER system within 72 hours of filing of refund claim.

The practical problems in filing of sales tax returns were highlighted by the participants. The commissioner Inland Revenue, Abdul Hafeez explained various queries with regard to HS Code, filing of annex H of sales tax return etc.

It was decided that practical issues will be resolved by the team of officers of MTO, Karachi. The policy issues will be conveyed to the FBR for resolution and smooth implementation of changes in the sales tax law.

Copyright Business Recorder, 2022