Islamabad: The Federal Board of Revenue (FBR) invoked Section 40-B of the Sales Tax Act 1990 and deputed field formation for monitoring of sales of sugar production at all sugar mills across the country. The tax officers at the sugar mills across the country would check the clearance of stocks through the manually installed system of tax stamps on sugar bags. Under the said enforcement provision of the sales tax law, the FBR or chief commissioner may post an officer of Inland Revenue to the premises of a registered person or class of such persons to monitor production, sales of taxable goods, and stock position.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Alibaba chief makes rare public appearance

Jack Ma, the founder of tech giant Alibaba, made a rare public…

Exhibition of Pakistani carpet art and Chinese photography in China

The exhibition of the collection of  Pakistani carpet art and  Chinese photography…

Criticizing govt for inflation is ‘baseless’: Shaukat Tarin

Islamabad: Federal Minister for Finance and Revenue Shaukat Tarin stated that criticizing…

Asian Markets Lifted by Stimulus Optimism & Vaccine Hopes

Hong Kong, Oct 21 (AFP/APP): Asian markets rose Wednesday on signs US…