Saturday, September 24, 2022
HomeGeneralIf there isn't a tax stamp on the sugar bag, it can't...

If there isn’t a tax stamp on the sugar bag, it can’t be removed, according to UIM

ISLAMABAD: The Federal Board of Revenue (FBR) Thursday imposed a ban on all sugar mills for removing sugar bags from factories/production sites/manufacturing plants without affixation of tax stamps/unique identification marking (UIMs).

The FBR has implemented the enforcement measure through issuance of Sales Tax General Order 5 of 2021, Thursday.

Sugar mills are bound to only obtain tax stamps/UIMs only from the FBR’s Licensee M/s AJCL/MITAS/Authentix Consortium.

Also read: No compromise on the government’s right to tax: Tarin

According to reports, the decision would only apply to fresh sugar supplies produced during the current crushing season. The ruling, however, would not apply to the old stock being removed from the factories.

The order has been issued by the FBR for the implementation of the Track and Trace System under SRO 250/2019.

The FBR is required under Section 40C(2) of the Sales Tax Act of 1990 and Rule 150ZF of the Sales Tax Rules of 2006 to notify the date for the implementation of electronic monitoring of production and sales of products in the manner stipulated by law on all manufacturing sites in designated sectors.

Also read: Government imports the “most costly” sugar in the country’s history

In exercise of the powers conferred under Section 40C(2) of the Sales tax Act, 1990 and Rule 150ZF of the Sales Tax Rules, 2006, it is hereby notified that no sugar bags shall be allowed to be removed from a production site, factory premises or manufacturing plant without affixation of tax stamps/UIMs with effect from November 11, 2021, which are to be obtained/procured from the FBR’s Licensee M/s AJCL/MITAS/Authentix Consortium. This issues with the approval of the competent authority, member Inland Revenue Operations, FBR, Islamabad, the FBR added.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments