SIALKOT: Federal Board of Revenue has issued final warning notice to a major defaulter beverage company giving a deadline for clearing its outstanding arrears until June 30, 2014.
FBR is continuing its special recovery campaign to ensure the recovery from all the minor and major defaulters in the Gujranwala region by issuing them the final notices and warning them to clear their dues or face the freezing of their bank accounts by FBR.
According to senior FBR officials, the beverage company was a defaulter of Rs 100 million, as it had not paid the sales tax to the FBR during the fiscal year 2013-14 despite the repeated recovery notices issued by the revenue body. The beverage company was bound to ensure the timely deposit this big amount to FBR at the earliest.
Now, FBR has warned the beverage company to clear its prolonged pending Rs 100 million arrears until the last date of June, 2014. Otherwise, FBR will freeze the accounts of the company and would deduct the chunk from beverage company’s bank accounts after the deadline, the senior FBR officials added.
Meanwhile, the FBR has also issued the final notices to all the minor and major steel smelters in Gujranwala region to ensure the early payment of their outstanding arrears worth millions of rupees before the last date of the current fiscal year.
The government had levied 17 per cent sales tax on all the steel smelters and 4 per cent sales tax surcharge on every steel smelting unit. But, the units had not yet paid their outstanding dues worth millions of rupees. FBR senior officials have also warned these units to clear their arrears. FBR will freeze the bank accounts to recover their outstanding arrears.
FBR senior officials added that several owners of the factories and private hospitals were the defaulters of Rs 200 million as they had not yet paid their excise duty to Punjab Excise and Taxation Department. The recovery target was Rs 231.6 million out of which the officials concerned of the Punjab Excise and Taxation Department has yet recovered only Rs 11 million.
On the other hand, according to the senior FBR officials, the FBR has yet recovered Rs 9.1 billion from Gujranwala region out of its total recovery target of Rs 10.15 billion set for the fiscal year 2013-14. They disclosed that as many as 13 special recovery teams were striving to recover the pending arrears of Rs 1.5 billion till June 30, 2014.
They added that FBR has yet recovered Rs 5.83 billion as income tax, Rs 4.28 billion as sales tax and Rs 3.50 billion as federal excise duty during this ongoing special recovery campaign in Gujranwala region.