{"id":96115,"date":"2024-01-14T10:00:00","date_gmt":"2024-01-14T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=96115"},"modified":"2024-01-12T16:11:44","modified_gmt":"2024-01-12T11:11:44","slug":"fbr-issues-new-deadline-tt-integration","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-issues-new-deadline-tt-integration.html","title":{"rendered":"FBR sets deadline for cement Track &#038; Trace integration"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has issued a final deadline for cement manufacturers to fully integrate the Track and Trace System (T&amp;TS).<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-warns-non-filers-of-sim-blocking-utility-cuts.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR issues final notices to non-filers<\/a><\/p>\n\n\n\n<p>As per the shared details, no cement bag will be allowed to leave any production site, factory, or manufacturing plant without the application of tax stamps or unique identification markings effective from April 30, 2024, according to reliable sources.<\/p>\n\n\n\n<p>Collaborating with Licensee Authentix Inc. from the US and consortium partners AJCL Private Limited and MITAS Corporation of South Africa, the FBR has been actively working on implementing the T&amp;T solution in the cement sector since 2022.<\/p>\n\n\n\n<p>Numerous effective demonstrations highlighting the T&amp;TS\u2019s capabilities were carried out across various factories; however, there were delays encountered by cement manufacturers. It is noteworthy that approximately 70% of operational cement plants are located in the North Region, while the remaining 30% are situated in the South Region.<\/p>\n\n\n\n<p>Top of Form<\/p>\n\n\n\n<p>At the moment, finalised cement products are subject to a 20% customs duty, an additional 6% customs duty, PKR 2 per kg Federal Excise Duty (FED), and an 18% sales tax. Moreover, the cement sector is also subjected to an 11% income tax.<\/p>\n\n\n\n<p>Top of Form<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/jinnah-sectors-plot-possession-announced.html\" target=\"_blank\" rel=\"noreferrer noopener\">Possession handover date for plots in LDA City\u2019s Jinnah Sector C-Block announced<\/a><\/p>\n\n\n\n<p>The real-time production monitoring features of the T&amp;TS mark a substantial departure from conventional retrospective auditing approaches. This transformative change enables tax authorities to have immediate and comprehensive access to data, promoting proactive decision-making and ensuring more precise tax assessments. The system\u2019s centralised repository will provide tax authorities unprecedented visibility into the production landscape of the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has issued a final deadline for cement manufacturers to fully integrate the Track and Trace System (T&amp;TS). Read: FBR issues final notices to non-filers As per the shared details, no cement bag will be allowed to leave any production site, factory, or manufacturing plant without the application of tax stamps or unique identification markings effective from April 30, 2024, according to reliable sources. Collaborating with Licensee Authentix Inc. from the US and consortium partners AJCL Private Limited and MITAS Corporation of South Africa, the FBR has been actively working on implementing the T&amp;T solution in the cement sector since 2022. Numerous effective demonstrations highlighting the T&amp;TS\u2019s capabilities were carried out across various factories; however, there were delays encountered by cement manufacturers. It is noteworthy that approximately 70% of operational cement plants are located in the North Region, while the remaining 30% are situated in the South Region. Top of Form At the moment, finalised cement products are subject to a 20% customs duty, an additional 6% customs duty, PKR 2 per kg Federal Excise Duty (FED), and an 18% sales tax. Moreover, the cement sector is also subjected to an 11% income tax.&hellip;<\/p>\n","protected":false},"author":88,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[57861,54453,19230],"persona":[],"class_list":{"0":"post-96115","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-fbr-announcements","9":"tag-fbr-news-and-updates","10":"tag-federal-board-of-revenue-fbr","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>FBR Issues New Deadline for T&amp;T Integration - Zameen News<\/title>\n<meta name=\"description\" content=\"Cement manufacturers are required to complete the integration of the Track and Trace System (T&amp;TS) by April 30, 2024, says 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\/fbr-issues-new-deadline-tt-integration.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR Issues New Deadline for T&amp;T Integration - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Cement manufacturers are required to complete the integration of the Track and Trace System (T&amp;TS) by April 30, 2024, says FBR.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-issues-new-deadline-tt-integration.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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