- The Federal Board of Revenue (FBR) has provided guidance on filing and processing sales tax refund claims for the tax year 2024.
- The updated Sales Tax Rules, 2006 outline the procedures and requirements for refund claims.
- Rule 28 of the Sales Tax Rules, 2006 provides the process for filing and processing refund claims under sections 10 and 8B of the Sales Tax Act, 1990.
- The data provided in the monthly return will be considered as supporting data for the refund claim.
- The claimed amount for the refund claim will be the amount specified in column 29 of the return.
- For claims arising from zero-rated supplies, Annex H must be filed separately within 120 days from the submission of the return without Annex H.
- Commercial exporters must file the claim within 120 days after the submission of the return without Annex H or after the date of issuance of BCA.
- The Commissioner may extend the 120 days period to a maximum of 60 days with justified reasons for the delay.
- Registered persons claiming refunds must maintain all paper documents related to the refund claim in their office.
- These documents need not be submitted with the refund claim but should be presented upon request for processing or post-refund scrutiny.
- These guidelines aim to streamline the refund claim process and ensure transparency and accountability.
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.
