| Islamabad: The Federal Board of Revenue (FBR) has taken decisive steps by issuing S.R.O. 308(i)/2024 on Friday, as claimed in an article on March 1.
Read: FBR exceeds FY’s tax collection target despite Feb’s shortfall
Under the details, this amendment to the Sales Tax Rules, 2006, specifically targets the steel sector and introduces electronic monitoring through the Track and Trace system. The FBR has expanded its electronic monitoring scope to include the tiles sector as well.
Read: FBR clears PKR 65bn in export refunds
As outlined in the amended S.R.O. 308(1)/2024, the Sales Tax Rules, 2006, will now be applicable to facilitate electronic monitoring, tracking, and tracing of the production, import, and supply chain of various goods in real-time. The newly included sectors for electronic monitoring encompass tobacco products, beverages, sugar, fertilizer, cement, petroleum products, the steel sector, and now tiles. |
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