
New System Developed To Deduct Sales Tax Automatically
Mohammad Ali (@ChaudhryMAli88) Published July 20, 2016 | 12:56 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th july,2016) : Controller General of Accounts (CGA) with the assistance of Federal board of Revenue (FBR) has developed a software which is now being used for automated verification of Sales Tax Registration Number (STRN) and deduction of applicable rates of sales tax from the vendors' claims submitted at accounting offices. The system has been implemented across all accounting offices from July 01, 2016, said a statement here on Wednesday.
The successful implementation of the project will ensure correct deduction of sales tax. Under the system, from July 01, 2016 onward the deduction of applicable rates i.e. 10%, 20% and 100% of the sales tax would be made through this automated system.
The system of the all the AGs would be linked up with FBR's database in order to verify the status of the vendor's STRN and authenticity of the Sales Tax Registration Number (STRN). As a result of this verification of status and authenticity of STRN, the system will automatically deduct sales tax as per applicable rates.
The system was developed following a pilot project which was launched by CGA at AG Office Islamabad under the supervision of DG (MIS) FABS on 1st May 2016.
In this pilot project, number of issues arose and solutions were provided to DG (MIS) by FBR for successful implementation of the software.
After resolution of the teething problems of the project, both the partners i.e., FBR and CGA decided to extend this project across the country from 1st July 2016. CGA office has a prime role in the implementation of the project and this role will increase with each passing day. It has been decided by FBR and CGA that the prerequisite of the countrywide success of the of the project is to sensitize all the government departments to become aware of the new system in due course of time to keep it smooth and efficient. It may be added that full applicable rate of sales tax shall be deducted from those vendors whose STRN does not get validated from FBR's database.
Under the system, the government departments and ministries would be required to deal with only those vendors who possess a genuine STRN.
Recent Stories

Sania Mirza burst into tear in post-match presentation ceremony

Latvian Ambassador Should Leave Russia Within 2 Weeks - Russian Foreign Ministry

CIA Chief Arrives in Israel Amid Recent Escalation in West Bank - Reports

US House Oversight Panel Will Probe Waste, Fraud in COVID-19 Relief Funding - Ch ..

CWDP approves seven development projects worth Rs 22.16b

Lack of Evidence Devalues Washington's Statements About Wagner Group - Kremlin
More Stories From Pakistan
-
Azad Jammu and Kashmir (AJK) Prime Minister Sardar Tanveer Ilyas Khan pays surprise visit to prison
1 hour ago -
Korean envoy Suh Sangpyo calls on Minister Murtaza Javed Abbasi
2 hours ago -
Adopt cleanliness, grow out of littering habit: DC
2 hours ago -
Sindh Child Helpline 1121 integrated with 911
2 hours ago -
Skilled manpower vital to increase economic productivity: speakers
2 hours ago -
DC listens to public complaints
2 hours ago -
Noted politician of KP province joined PPP
2 hours ago -
Sindh Chief Minister Syed Murad Ali Shah urges well offs to pay back for cause of education
2 hours ago -
Special children's event held at Pakistan Youth Festival
2 hours ago -
Saeed posted as RPO Bahawalpur
2 hours ago -
PPP condemns Imran's baseless allegations against Asif Zardari
2 hours ago -
AC inspects patwar khanas in Dera tehsil
2 hours ago
Education - Urdu News - Car Prices - Breaking News - English News - Live Tv Channels - Urdu Horoscope - Horoscope in Urdu - Muslim Names in Urdu - Urdu Poetry - Love Poetry - Sad Poetry - Prize Bond - Mobile Prices in Pakistan - PTV Sports - English to Urdu - Big Ticket - Translate English to Urdu - Ramadan Calendar - Prayer Times - DDF Raffle - Islamic Calendar - Events - Today Islamic Date - Travel - UAE Raffles - Travel Guide - Arabic - Urdu Cooking Recipes - Directory - Pakistan Results - Past Papers - BISE - Schools in Pakistan - Academies & Tuition Centers
UrduPoint Network is the largest independent digital media house from Pakistan, catering the needs of its users since year 1997. We provide breaking news, Pakistani news, International news, Business news, Sports news, Urdu news and Live Urdu News
© 1997-2023, UrduPoint Network
All rights of the publication are reserved by UrduPoint.com. Reproduction without proper consent is not allowed.