ISLAMABAD: Prime Minister Imran Khan will initiate the Track and Trace System (TTS) of the Federal Board of Revenue (FBR) on Nov 23 under which development of sugar sacks will be observed to really take a look at tax avoidance in the sugar business.
Last month, FBR stretched out the TTS to the cigarette area to really take a look at tax avoidance there. Along these lines, the sugar industry will arise as the subsequent area to be brought under electronic checking. The FBR is intending to bring the drink and oil areas under TTS.
An authority declaration said the FBR has as of now gave Sales Tax General Order No. 5 which appoints that no sugar pack will be permitted to move out of a creation site, processing plant premises or assembling plant without attachment of actuated stamps/Unique Identification Marking (UIMs) with impact from November 11, 2021.
The UIMs are to be acquired/secured from FBR’s Licensee AJCL/MITAS/Authentix Consortium. The Sales Tax Act-1990 read with Rule 150 ZF of the Sales Tax Rules-2006 order FBR to tell the date for the execution of Electronic Monitoring of Production and Sales of Goods in the way endorsed in the law on all assembling destinations of told areas.
Subsequent to carrying out electronic observing of the tobacco area, FBR is presently executing TTS in the following huge sugar area which will be trailed by the excess areas.
TTS will guarantee electronic observing of assembling and deals of results of significant areas comprising of tobacco, manures, sugar, and concrete.