Thursday , January 28 2021
Breaking News
Home / Breaking News / MTBA demands to condone time limit for submitting annexure H&F for claiming sales tax refunds
MTBA demands to condone time limit for submitting annexure H&F for claiming sales tax refunds

MTBA demands to condone time limit for submitting annexure H&F for claiming sales tax refunds

MULTAN: Multan Tax Bar Association (MTBA) demanded the Federal Board of Revenue (FBR) to condone time-limit for submitting annexure ‘H’ and ‘F’ of monthly returns for claiming sales tax refunds.

Multan Tax Bar Association has written a letter to Member Inland Revenue (Operation) of Federal Board of Revenue (FBR) in which they said that a large number of taxpayers had failed to rectify the details of their stock position through annexure ‘H’ and value addition through annexure ‘F’. Due to this sales tax refund was stuck up since July 2019.

Multan tax bar urged the tax authorities to grant general condonation of 60-day time to taxpayers for filing revised annexure ‘H’ and ‘F’ of sales tax returns related to tax periods from July 2019 onwards to e-file pending refunds claims.

In a letter sent to the Dr Muhammad Ashfaq Ahmed, Member IR (Operations), MTBA appreciated the efforts of the FBR to ensure speedy liquidation of sales tax refunds in consonance with Prime Minister’s Covid -19 Relief Package.

The Multan tax bar association highlighted that due to prolonged pendency, there were anomalies in annexure F and H and gaps and contradictions in its supporting documents had rendered a sizeable quantum of refund claims pending with the FBR, and all such taxpayers required to file revised annexure F and H from July 2019 on a sequential basis.

Although the Commissioner Inland Revenue empowered to condone such cases under section 74 of the Sales tax Act 1990 but the MTBA sought a general condonation and extension of time limit. The MTBA said that it would help the taxpayers to file annexure F and H without wastage of time.