To facilitate retailers' community, the Federal Board of Revenue (FBR) has extended the date up to April 30, 2020 for online integration of tier-1 retailers' point of sale (POS) with the board's computerized system for real time reporting of their sales.
So far, the FBR's effective strategy has been able to integrate 6,500 outlets of over 350 tier-1 retailers with the FBR's system.
These over 350 retailers have successfully registered with the FBR's online system of integration.
According to the FBR's instructions issued to the field formations here on Thursday, in exercise of the powers conferred under Section 74 of the Sales Tax act, 1990, the FBR has further condoned the time limit as provided in sub-rule (2) of rule 150ZEA of Sales
Tax Rules, 2006, up to 30th April, 2020, for online integration of tier-1 retailers' POSs with the board's computerized system for real time reporting of sales subject to the condition that such tier-1 retailers furnish in writing their willingness to integrate all their POSs in terms of aforesaid rules to the respective RTOs/LTUs by 20th April, 2020, the FBR added.
A tax expert said that all tier-1 retailers as defined under Section 2(43A) of the ST Act, 1990, read with Section 3(9A), are required to integrate their point of sale (POS)/retail outlets with the FBR's computerised system for real-time reporting of their sales with effect from December 1, 2019.
However, the date has been repeatedly extended to facilitate big retailers for their online integration with the FBR.