{"id":85251,"date":"2022-04-11T16:05:59","date_gmt":"2022-04-11T11:05:59","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=85251"},"modified":"2022-04-11T16:06:04","modified_gmt":"2022-04-11T11:06:04","slug":"automated-sales-tax-returns-misdeclarations","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/automated-sales-tax-returns-misdeclarations.html","title":{"rendered":"Automated Sales Tax Returns: FBR spots misdeclarations"},"content":{"rendered":"\n

Islamabad: The Federal Board of Revenue (FBR) has discovered misdeclarations in the details of the supply and purchase in sales tax returns<\/a>, according to a news story published on Saturday (April 9).<\/p>\n\n\n\n

Read:<\/strong> FBR declares merged districts\u2019 industries tax-free on quota basis<\/a><\/p>\n\n\n\n

As per the details, the FBR mentioned that the analysis of the data in the system revealed some distributors, dealers, wholesalers, and importers were misusing the automated facilities. It was disclosed that wholesalers and importers were fraudulently declaring sales of goods irrespective of the purchases in violation of the law.<\/p>\n\n\n\n

Read:<\/strong> <\/a>FBR to upload profiles of non-filers to new portal<\/a><\/p>\n\n\n\n

In order to ensure transparency, it was decided that the sales of goods by wholesalers, importers, distributors, and dealers under HS code as declared in the sales tax return will be allowed on the basis of goods under the said HS Code as declared in Annex-A and Annex-B of the sales tax return by the taxpayers with effect from April 1. According to FBR, the Sales Tax Act 1990 directs the taxpayers, registered with the FBR, to correctly declare sales and purchases in the monthly sales tax return.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: The Federal Board of Revenue (FBR) has discovered misdeclarations in the details of the supply and purchase in sales tax returns, according to a news story published on Saturday (April 9). Read: FBR declares merged districts\u2019 industries tax-free on quota basis As per the details, the FBR mentioned that the analysis of the data in the system revealed some distributors, dealers, wholesalers, and importers were misusing the automated facilities. It was disclosed that wholesalers and importers were fraudulently declaring sales of goods irrespective of the purchases in violation of the law. Read: FBR to upload profiles of non-filers to new portal In order to ensure transparency, it was decided that the sales of goods by wholesalers, importers, distributors, and dealers under HS code as declared in the sales tax return will be allowed on the basis of goods under the said HS Code as declared in Annex-A and Annex-B of the sales tax return by the taxpayers with effect from April 1. According to FBR, the Sales Tax Act 1990 directs the taxpayers, registered with the FBR, to correctly declare sales and purchases in the monthly sales tax return.<\/p>\n","protected":false},"author":83,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[51907,51906,19230],"persona":[],"class_list":{"0":"post-85251","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-automated-sales-tax-returns","9":"tag-automated-sales-tax-returns-fbr-spots-misdeclarations","10":"tag-federal-board-of-revenue-fbr","11":"cat-15016-id"},"acf":[],"yoast_head":"\nAutomated Sales Tax Returns: FBR spots misdeclarations - Zameen News<\/title>\n<meta name=\"description\" content=\"The Federal Board of Revenue (FBR) has discovered misdeclarations in the details of the supply and purchase in sales tax returns......\" \/>\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\/automated-sales-tax-returns-misdeclarations.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Automated Sales Tax Returns: FBR spots misdeclarations - 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