FBR Extends Deadline For Submitting Viewpoints On Input Tax Refunds For Multiple Sectors

The Federal Board of Revenue (FBR) has extended the date upto January 10, 2024, for the stakeholders to submit viewpoints on the list of “HS codes” for claiming input tax adjustment by weaving dyeing & printing, steel melters/re-rollers, oil & ghee, chemicals, cement, lead& batteries, paper & paper board.

In this regard, the FBR issued instructions to the business and trade on Wednesday. According to the FBR, about the Board’s circular dated 14.12.2023, the cut-off date for submission of recommendations is hereby extended till 10th January 2024.

All concerned are requested to forward their recommendations to the Secretary (ST-Operations), FBR, Islamabad by the aforementioned date for the addition or deletion of any items enumerated in the list, FBR added.

A tax expert explained that the registered persons may only be allowed to avail input tax on goods and services mentioned in the positive list of input tax allowance which would be finalized after consultation of stakeholders by December 28, 2023.

According to the FBR’s circular, to ensure the streamlining of allowance of input tax on the raw materials being used by the following sectors; Weaving Dyeing & printing, steel melters/re-rollers, oil & ghee, chemicals cement, lead & batteries, and paper & paper board.

A positive list of input, goods & services of each sector has been prepared in consultation with the stakeholders; the same has been uploaded on the FBR’s website, so that it is notified under the relevant provisions of law, after obtaining the observations from all quarters concerned, FBR maintained.

All concerned are requested to go through the list and forward their recommendations in this regard to the Secretary (ST-Operations), FBR, Islamabad by December 28, 2023, for the addition or deletion of any items enumerated in the list.

The said date has been extended upto January 10, 2024, the FBR added.