ISLAMABAD, Sept 3: The Central Board of Revenue has allowed filing of multiple returns by registered persons dealing simultaneously in different business activities. The decision was announced through a sales tax circular No 2 issued here on Saturday.
The CBR allowed the registered persons to file separate sales tax return for each business activity as prescribed under the relevant notifications in addition to the normal sales tax return-cum-payment challan prescribed under notification SRO533 of 2005 issued on June 6, 2005, wherever applicable.
However, input tax adjustment/refund shall not be allowed to such persons to the extent barred under the relevant notification.
As regards refund/adjustment of input tax incurred to the extent of the transactions, which are not governed by any special procedure, the same shall continue to be dealt with under the relevant provisions of law.
Furthermore, the CBR has also allowed the registered persons, who did not file their sales tax returns for June and July 2005 in the manner prescribed above, to revise their returns accordingly without any penalty or default surcharge.
A number of registered persons dealing simultaneously in different and composite business activities have approached the CBR with the plea that since a number of special sales tax procedures are in vogue requiring registered persons to charge/ deposit sales tax in various manners laid down in the relevant notifications and to declare their transactions in the sales tax returns prescribed therein, therefore, it was not possible for them to declare their transactions in a single sales tax return.
