ISLAMABAD: Federal Board of Revenue (FBR) has notified rules for suppliers of finished fabric, textile, and leather products integrated with the board’s online system to avail lower rate of duty.
The rules were notified through SRO 1360 after amending the Sales Tax Rules 2006.
The integrated supplier will also notify the FBR on all their outlets from which they intend to sell the supplies under the lower rate.
All sales and transactions made from the notified outlets will be communicated to the FBR’s computerised system and the data transferred shall be accommodated in Annexure-C or other relevant annexure of the monthly sales tax-cum-federal excise return.
The rules direct local manufacturers to install fiscal electronic device and software available on the FBR website with complete technical instructions for installation, configuration and integration.