ISLAMABAD: In a bid to eliminate tax evasion in retail sector, the Federal Board of Revenue (FBR) has made digital sales tax invoice mandatory for sale of fast-moving consumer goods, giving a February 1 deadline to all importers/ dealers/ distributors, ARY News reported on Friday.
According to SRO 28(I)/ 2023 issued by FBR, the importers/ dealers/ distributors have been directed to include the entire supply chain of fast-moving consumer goods within the ambit of “digital invoicing”.
The revenue board noted that the said registered persons shall transmit sales tax invoices electronically including all importers and manufacturers of fast-moving consumer goods, all wholesalers [including dealers], distributors of fast-moving consumer goods and all wholesaler-cum-retailers engaged in bulk import and supply of fast-moving consumer goods on wholesale basis to the retailers.
“The registered persons shall transmit digital sales tax invoices including all importers and manufacturers in terms of rule 150Q of its notification 1525(I)/2023, as prescribed under Chapter XIV of the Sales Tax Rules 2006,” the notification said, adding that it would come into force on and from February 1, 2024.
The FBR added that the said registered persons may after showing plausible cause make application to the Commissioner Inland Revenue having jurisdiction for extension in time for compliance.
The notification concluded by stating unless there is anything repugnant in subject or context, “fast moving consumer goods” means consumer goods which are supplied to retail marketing as per daily demand of a consumer, excluding durable goods.
