Islamabad: The Federal Board of Revenue (FBR) on Tuesday (August 3) has ordered manufacturers and sellers of key consumer brands and commodities like cement, tobacco, sugar, fertiliser, and beverages to register their brands in order to continue selling their products in the market, news sources reported.
The board has made it mandatory for all new and existing businesses in the specified industries to get registered before selling their products in the market. The apex tax agency issued a procedure for brand registration under Section 40E of the Sales Tax Act, 1990, as amended by the Finance Act, 2021. On August 3rd, the FBR published a procedural letter in this respect, Sales Tax General Order (STGO) 7/2021. The mandatory brand registration is required for all firms listed in rule 150ZF of the 2006 sales tax regulations.
Furthermore, brands associated with the aforementioned industries are ordered to register themselves by submitting an application to the project director (TTS) containing information such as the manufacturer’s name, trade name, STRN, NTN, date and place of incorporation, name of directors, precise business location of the manufacturing unit, and details of the product.
The Project Director will then scrutinise and provide the brand registration certificate. Furthermore, the move is being made to regularise the unauthorised brands from selling their products and curb tax evasion.