MULTAN: The Federal Board of Revenue (FBR) directed Chief Collector Customs and collectors regarding clarification of newly inserted serial no. 26 of section 33 of sales tax act 1990.
The Federal Board of Revenue has received several queries from various clearing agents and Customs Collectorates regarding applications of newly inserted serial no.26 in section 33 of the Sales tax act 1990.
Secretary Sales Tax and Federal Excise Budget Tauqeer Ahmed has clarified that at import stage the mechanism of clearing of goods already defined in Sales Tax General Order (STGO) 103 of 2019 to be followed. The STGO recognizes that in some situations, the printing of retail price is not possible and allows clearance of goods on payment of sales tax in the manner as provided therein subject to furnishing of an undertaking that the retail price shall be duly printed.
However the aforesaid undertaking shall mention that the importer shall print the retail price within ten days of clearance of import consignments and intimate the Commissioner concerned for inspection before further supply.
On the other hand if inspection is not possible with in ten days after the intimation the importer /manufacturer will be free to supply in the market.
The newly inserted penal provisions shall be invoked if the manufacturer/importer violates the undertaking or non-complaint with requirement of retail price taxation. The Federal Board of Revenue has directed all Chief Collectors and Collectors regarding newly inserted serial no.26 of section 33 of sales tax act 1990.