- The FBR has implemented a directive preventing integrated retailers from issuing temporary sales tax invoices through the POS system.
- The FBR issued SRO 1775(I)/2023, amending the Sales Tax Rules, 2006.
- The amendment prohibits integrated suppliers from issuing temporary or draft invoices through the POS system.
- Proper debit or credit notes must be issued for sales returns or exchanges, with reference to the original invoice.
- Integrated suppliers must notify the Board about all their outlets and register each POS.
- The amendments aim to modernize and streamline tax procedures in the retail sector.
- The prohibition on temporary sales tax invoices aims to enhance the accuracy and reliability of financial transactions.
- Retailers using integrated POS systems should comply with the amended rules to avoid penalties or disruptions in their business operations.
- The FBR aims to foster a more transparent and accountable business environment in Pakistan.
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
