KARACHI, Aug 20: The Member, Sales Tax, Central Board of Revenue, Shahid Ahmed, has said that sales tax department is developing an IT-based software for the verification of sales tax returns, which would be operative by November.
Talking to President Khalid Firoz and members of the Karachi Chamber of Commerce and Industry here, Mr Ahmed said that with the launch of new software, the business community would be able to file their ST returns through e-mails, courier service or by using drop-box facility.
The software, he said, was aimed at facilitating businessmen to reduce direct interactions between tax collectors and taxpayers.
Explaining the drop-box facility, he pointed out that all ST returns filed would be checked twice a day and would be immediately sent for further processing. This entire procedure would be operated from the CBR headquarter to single out any possibility of harassment which was faced by the business community in the recent past, he commented.
He mentioned that there were almost 14,400 registered importers in Karachi, out of which 6,000 are commercial importers and added that only 3,776 filed returns while 3,600 filed with Annexure C.
Khalid Firoz appreciated the services of Shahid Ahmed in getting the chamber’s long outstanding proposal of allowing a zero-rated sales tax regime to five export-oriented industries, accepted in the budget 2005-06.
The KCCI chief pointed out that the period of recovery of sales tax dues and audit was still five years, which was an anomaly and created confusion and harassment among registered taxpayers. He suggested that the period of retention of record for all purposes should also be reduced to three years.—APP
