After the issuance of sales tax refunds of Rs. 65 billion to five leading export sectors, the Federal Board of Revenue (FBR) has now ordered the issuance of sales tax refunds to remaining sectors/industries within a month.
Sources told ProPakistani that the remaining export sectors like engineering, rice, and exports of food products and others would get refunds on a priority basis, sources added.
The FBR’s instructions to the Chief Commissioners Inland Revenue of field formations, to liquidate the pendency of deferred sales tax refund claims and to avoid further piling up of these claims, it has been decided that the field formations shall:
- Dispose of deferred pending sales tax refund already communicated by the automated system to date, by June 1, 2024.
- Dispose of deferred pending sales tax refund claims arising henceforth within one month of the communication of the deferment of the claims by the automated system.
- The Chief Commissioners-IR concerned are requested to personally monitor the processing and disposal of deferred pending sales tax refund claims and ensure that the above instructions of the Board are strictly complied with, FBR added.
Good to discourage export!