{"id":59811,"date":"2020-01-15T12:33:16","date_gmt":"2020-01-15T12:33:16","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=59811"},"modified":"2020-01-21T10:22:59","modified_gmt":"2020-01-21T10:22:59","slug":"fbr-penalise-manufacturers-found-violating-retail-print-condition","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-penalise-manufacturers-found-violating-retail-print-condition.html","title":{"rendered":"FBR to penalise manufacturers found violating retail print condition"},"content":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) has stated that it will impose a monetary penalty on importers and manufacturers who fail to comply with the legal requirement of retail price printing, according to news sources.<\/p>\n<p>All chief collectors and collectors of Pakistan Customs have been informed by an official memorandum regarding the implementation of penal provision in case of non-compliance of retail printing regulations.<\/p>\n<p>An amendment related to this penalty has already been introduced to the Sales Tax Act, 1990 during the promulgation of Tax Laws (Second Amendment) Ordinance 2019 earlier this month.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-restricts-manufacturers-selling-goods-pkr-10-mn-unregistered-distributors.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR restricts manufacturers selling goods over PKR 10 mn to unregistered distributors<\/a><\/p>\n<p>The amendment states that any manufacturer or importer of taxable items will be liable to pay a penalty of PKR 10,000 or 5% of the amount of the tax involved, if he\/she fails to print the retail price in the prescribed manner.<\/p>\n<p>Moreover, these goods will also be subject to confiscation. The adjudication authority, however, may allow redemption of confiscated goods on payment of a fine, which will not be less than 20% of the total retail price of such goods.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-collects-pkr-209bn-in-additional-taxes.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR collects PKR 209bn in additional taxes<\/a><\/p>\n<p>The Finance Act 2019 made it mandatory for imported consumer items (subjected to<a href=\"https:\/\/www.zameen.com\/news\/fbr-notifies-importers-regarding-new-retail-clearance-regime.html\" target=\"_blank\" rel=\"noopener noreferrer\"> Third Schedule of Sales Act 1990<\/a>) will be cleared on retail print basis. The condition was implemented from July 1, 2019, onwards.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) has stated that it will impose a monetary penalty on importers and manufacturers who fail to comply with the legal requirement of retail price printing, according to news sources. All chief collectors and collectors of Pakistan Customs have been informed by an official memorandum regarding the implementation of penal provision in case of non-compliance of retail printing regulations. An amendment related to this penalty has already been introduced to the Sales Tax Act, 1990 during the promulgation of Tax Laws (Second Amendment) Ordinance 2019 earlier this month. Read:\u00a0FBR restricts manufacturers selling goods over PKR 10 mn to unregistered distributors The amendment states that any manufacturer or importer of taxable items will be liable to pay a penalty of PKR 10,000 or 5% of the amount of the tax involved, if he\/she fails to print the retail price in the prescribed manner. Moreover, these goods will also be subject to confiscation. The adjudication authority, however, may allow redemption of confiscated goods on payment of a fine, which will not be less than 20% of the total retail price of such goods. Read:\u00a0FBR collects PKR 209bn in additional taxes The Finance Act 2019 made it&hellip;<\/p>\n","protected":false},"author":75,"featured_media":22258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[14989],"persona":[],"class_list":{"0":"post-59811","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-fbr-to-penalise-manufacturers-found-violating-retail-print-condition","9":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR to penalise manufacturers found violating retail print condition - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The Federal Board of Revenue (FBR) has stated that it will impose a monetary penalty on importers and manufacturers who fail to comply with the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-penalise-manufacturers-found-violating-retail-print-condition.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR to penalise manufacturers found violating retail print condition - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The Federal Board of Revenue (FBR) has stated that it will impose a monetary penalty on importers and manufacturers who fail to comply with the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-penalise-manufacturers-found-violating-retail-print-condition.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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