The Utility Stores Corporation (USC) stores have not been linked with the Federal Board of Revenue’s (FBR) Point of Sale (POS) system.
This was revealed when USC recently announced the integration of its 4,000 stores across Pakistan to connect through the POS system.
Whether it is the FBR’s negligence or the USC’s incapability that the consumers are charged sales tax on every invoice generated is unclear, but the latter’s system remains to be connected with the revenue authority’s system for real time tax collection and monitoring.
Sources mentioned that the USC had installed POS machines to keep track of purchases at 4,000 of its (small and large) stores on 29 March. After the installation of POS, sales tax on items was also deducted from the invoices of customers.
According to sources in the FBR, the USC has not registered its POS machines to the FBR’s POS system and continues to charge tax to the customer invoices. The USC also maintains that it submits its taxes to the FBR on an annual basis.
The FBR has directed the Tier One retailer to be affiliated with the POS system, and many USC stores fall into the category of the Tier One retailer.
However, it is ironic that the USC’s Managing Director, Taha Maghribi, is unaware of the FBR POS integration and replied in the affirmative when asked if the USC stores are connected to the FBR’s system.
An unaware person is appointed as managing director. I will not be surprised if he don’t know what POS system actually is. He should be demoted.
Let Ishaq Dar Sb come