The Federal Board of Revenue (FBR) has directed all importers, manufacturers, wholesalers/ dealers/ distributors, and wholesaler-cum-retailers of fast-moving consumer goods to operate under an electronic sales tax (e-ST) integration system.
In this regard, the FBR issued SRO.1525(I)/2023 on Tuesday. According to notification, Federal Board of Revenue has notified the following registered persons in terms of Rule 150Q of the S.R.O. 1525(1) /2023:
(i): All importers and manufacturers of fast-moving consumer goods,
(ii): All wholesalers (including dealers), distributors of fast-moving consumer goods,
(iii): All wholesaler-cum-retailers engaged in bulk import and supply of fast-moving consumer goods on a wholesale basis to the retailers.
As per the notification, unless there is anything repugnant in the subject or context, “fast-moving consumer goods” means consumer goods that are supplied in retail marketing as per the daily demand of a consumer excluding durable goods.
The board has issued a notification to provide a mode and manner for the issuance of electronic integrated invoices for more categories of registered persons from such date as notified by the FBR.
The new procedure shall apply to electronic transmission of sales tax invoices by the registered persons from such date and in the manner as may be specified by the board through notification in the official gazette. The integrated supplier shall issue a real-time verifiable electronic sales tax invoice for every taxable supply and service made by him, containing such information as prescribed under section 23 of the Act. The registered person shall also retain the record and documents for a period of six years on electronic media.
The integrated supplier shall comply with all requirements specified by the Board for integration, recording, storage, issuance, and transmission of verifiable electronic invoices in real-time, such as the provision of any hardware, software, or connectivity required under these rules for the purpose of integration and operations of the electronic invoicing system.
The integrated supplier shall allow physical and online remote access to the record, system, logs, and documents maintained in electronic form as and when required by the officer of Inland Revenue.
