{"id":60209,"date":"2020-01-21T11:20:46","date_gmt":"2020-01-21T11:20:46","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=60209"},"modified":"2020-01-21T11:23:41","modified_gmt":"2020-01-21T11:23:41","slug":"bakeries-sweet-marts-required-to-provide-sales-record-fbr","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/bakeries-sweet-marts-required-to-provide-sales-record-fbr.html","title":{"rendered":"Bakeries, sweet marts required to provide sales record: FBR"},"content":{"rendered":"\n<p>Karachi: The Federal Board of Revenue (FBR) on Monday stated that bakeries and sweet marts, which fall under the criteria defined for tier-1 retailers, were required to integrate their sales record with the taxation authority\u2019s system, according to a news source.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-notifies-ordinance-on-tax-concessions-to-traders.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Govt notifies ordinance on tax concessions to traders (opens in a new tab)\">Govt notifies ordinance on tax concessions to traders<\/a><\/p>\n\n\n\n<p>With\nregards to its automated Point of Sales (POS) system installation condition for\nthe retailers; the FBR stated that there were no exemptions applicable to these\nbakeries and sweet shops under the Sales Tax Act 1990. The taxation agency said\nthat the sale transactions of these confectioners would be treated similar to that\nof the other retailers.<\/p>\n\n\n\n<p>The tax authority maintained that all establishments (whether manufacturers or not) who sell goods to public for consumption were categorised as retailers under Section 2, Clause 28 of the Sales Tax Act 1990. The FBR said that POS integration was mandatory for all <a href=\"https:\/\/www.zameen.com\/news\/fbr-proposes-schemes-bring-retailers-into-tax-net.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"tier-1 retailers  (opens in a new tab)\">tier-1 retailers <\/a>regardless of items they were dealing in. <\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-consider-fining-pos-non-complying-retailers.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR to consider fining POS non-complying retailers (opens in a new tab)\">FBR to consider fining POS non-complying retailers<\/a><\/p>\n\n\n\n<p>It further stated that in view of\nthe increased power tariff, the threshold to qualify for a tier-1 retailer had\nbeen increased for a bill of PKR 600,000 per annum to PKR 1.2 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Federal Board of Revenue (FBR) on Monday stated that bakeries and sweet marts, which fall under the criteria defined for tier-1 retailers, were required to integrate their sales record with the taxation authority\u2019s system, according to a news source. Read: Govt notifies ordinance on tax concessions to traders With regards to its automated Point of Sales (POS) system installation condition for the retailers; the FBR stated that there were no exemptions applicable to these bakeries and sweet shops under the Sales Tax Act 1990. The taxation agency said that the sale transactions of these confectioners would be treated similar to that of the other retailers. The tax authority maintained that all establishments (whether manufacturers or not) who sell goods to public for consumption were categorised as retailers under Section 2, Clause 28 of the Sales Tax Act 1990. The FBR said that POS integration was mandatory for all tier-1 retailers regardless of items they were dealing in. Read: FBR to consider fining POS non-complying retailers It further stated that in view of the increased power tariff, the threshold to qualify for a tier-1 retailer had been increased for a bill of PKR 600,000 per annum to PKR 1.2&hellip;<\/p>\n","protected":false},"author":75,"featured_media":59990,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15017],"tags":[15184],"persona":[],"class_list":{"0":"post-60209","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"category-notices-announcements","9":"tag-details-on-bakeries","10":"cat-15015-id","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bakeries, sweet marts required to provide sales record | Zameen News<\/title>\n<meta name=\"description\" content=\"Bakeries and sweet marts, which fall under the criteria defined for tier-1 retailers, were required to integrate their sales record with FBR.\" \/>\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\/bakeries-sweet-marts-required-to-provide-sales-record-fbr.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bakeries, sweet marts required to provide sales record | Zameen News\" \/>\n<meta property=\"og:description\" content=\"Bakeries and sweet marts, which fall under the criteria defined for tier-1 retailers, were required to integrate their sales record with FBR.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/bakeries-sweet-marts-required-to-provide-sales-record-fbr.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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