The Federal Board of Revenue (FBR) has allowed customers to get five per cent cash back on sales tax paid on purchases from tier-1 retailers that are integrated with the FBR’s online system.
The amount of 5pc of the sales tax paid to the integrated retailers can be redeemed through FBR’s wallet account.
According to a notification, an important amendment was made into the Sales Tax Act, 1990 through Finance Act, 2019, under which the customers of tier-1 retailers are entitled to receive cash back of up to five per cent of the tax involved.
The FBR, after one and a half years of the introduction of the law, has launched procedures to pay pack the customers of tier-1 retailers.
According to the procedure, customers are required to sign up to the Tax Asaan mobile application of the FBR. By this way, the customers will create an FBR wallet account.
The customers are required to verify the electronically generated invoice through the mobile application.
As soon as the electronically generated invoice is verified, the system shall automatically calculate the five per cent amount of the tax paid on the invoice, according to the procedure.
Tier-1 retailers have been defined as retailers who are operating as a unit of a national or international chain of stores; operating in an air-conditioned shipping mall, plaza or center, excluding kiosks; a retailer whose cumulative electricity bill during the immediately preceding 12 consecutive months exceeds Rs1.2 million.
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Where is this tier-1 retailer list available ?
This is great initiative, I think the govt wants to dacument retail market , this will also help in increasing tax collections.
Why Maulana Fazal is burnt at not being Part of government?.What has he .to promote Religious ideology as Maulana of Religious Party?…I strongly recommend that he should drop Maulana title.
Great step by FBR
I would request all to keep trading with active sales tax filer, by so doing you will get 3 percentage of cash back and all non sales tax filers will turn to active filer.
Think nationalism
Yes, a great move, however, the prices should old be kept under control from creating a zero-sum effect.
Sir,
As per i understand its a good step. But its better that tier-1 list should be publically published.
2. Metro cash & cary, Punjab cash & cary or this type of retailer outlet.
Thanx.
0332-850193
Weldon FBR
GOOD STEP FBR BUT FIRST YOU EDUCATE THE PEOPLE
Hown I can filer from online???
It’s not much attractive policy as if a customer purchase Rs 10000/- goods , he will pay 1700/- S.Tax & will get back 5% i.e just Rs.85/-
Has it started working??