ISLAMABAD, Jan 24: The Central Board of Revenue (CBR) on Wednesday rolled out simplified automated refund procedure for processing refunds of sales tax in five zero-rated sectors.
The manufactures of these five sectors — textiles, leather, sports, surgical and carpets – would not have to submit huge data which were previously submitted for refunds.
In a statement, Member Sales Tax and Federal Excise Ms Musarrat Jabeen said that the new simplifying procedure would be retaining only risk analysis parameters.
The manufacturers are now not required to submit details of exports and they have to submit only data pertaining to their taxable inputs, she added.
The new Risk Based Refund Procedure, besides being efficient, has also done away with heavy documentation for refund purpose by the manufacturers.
