The Federal Board of Revenue (FBR) has given a deadline of February 1, 2024, to all importers/dealers/ distributors of fast-moving consumer goods to issue sales tax invoices electronically.
The FBR issued SRO.28(I)/2023 on Thursday to include the entire supply chain of fast-moving consumer goods within the ambit of digital invoicing.
According to the notification, the FBR has notified that the following registered persons shall transmit sales tax invoices electronically including all importers and manufacturers of fast-moving consumer goods, all wholesalers (including dealers), distributors of fast-moving consumer goods, and all wholesaler-cum-retailers engaged in bulk import and supply of fast-moving consumer goods on wholesale basis to the retailers.
The FBR has notified these registered persons shall transmit sales tax invoices electronically including all importers and manufacturers in terms of rule 150Q of its Notification No. 1525(1) /2023, as prescribed under Chapter XIV of the Sales Tax Rules 2006. This notification shall come into force on and from February 1, 2024.
The said registered persons, may after showing plausible cause file an application to the Commissioner Inland Revenue having jurisdiction for extension in time for compliance. In this 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.
