ISLAMABAD, (UrduPoint / Pakistan Point News - 4th Aug, 2021 ) :The Federalboard of Revenue (FBR) has rejected 60 percent input tax on retailers, who are not connected to Automatic Receipt Verification System (ARVS).
The FBR has issued General Sales Tax Order No. 1 to link large retailers to the automatic receipt verification system, said a press release issued by FBR here.
Under the automated system, large retailers will continue to be connected to the system fromAugust 1, 2021.
Following the identification, a list of retailers not connected to the system that has been uploaded on the FBR website.
Retailers, who are not connected to the automated system by August 15 will not pay 60 percent of the input tax filed in their July sales tax returns.
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