The sugar mills cannot remove their stocks from factories from November 11, 2021, unless each and every sugar bag is affixed with the tax stamp, a unique identification marking (UIM), specified by the Federal Board of Revenue (FBR).
FBR issued an order on Thursday to ensure implementation of the Track and Trace System under SRO 250/2019. Following the order, no sugar bag without a tax stamp/UIM affixed to it can be removed from the premises of sugar mills.
The provisions of Section 40C(2) of the Sales Tax Act, 1990 read with Rule 150ZF of the Sales Tax Rules, 2006 mandate the FBR to notify the date for implementation of electronic monitoring of production and sales of goods in the manner prescribed in the law on all manufacturing sites of notified sectors.
The sugar mills cannot remove their stocks from factories from November 11, 2021, unless each and every sugar bag is affixed with the tax stamp, a unique identification marking (UIM), specified by the Federal Board of Revenue (FBR).
FBR issued an order on Thursday to ensure implementation of the Track and Trace System under SRO 250/2019. Following the order, no sugar bag without a tax stamp/UIM affixed to it can be removed from the premises of sugar mills.
The provisions of Section 40C(2) of the Sales Tax Act, 1990 read with Rule 150ZF of the Sales Tax Rules, 2006 mandate the FBR to notify the date for implementation of electronic monitoring of production and sales of goods in the manner prescribed in the law on all manufacturing sites of notified sectors.
The FBR order reads: “In exercise of the powers conferred under Section 40C(2) of the Sales tax Act, 1990 and Rule 150ZF of the Sales Tax Rules, 2006, it is hereby notified that no sugar bags shall be allowed to be removed from a production site, factory premises or manufacturing plant without affixation of tax stamps/UIMs with effect from November 11, 2021, which are to be obtained/procured from the FBR’s Licensee M/s AJCL/MITAS/Authentix Consortium.”
“This issues with the approval of the competent authority, member Inland Revenue Operations, FBR, Islamabad,” it concludes.
Source: Pro Pakistani