ISLAMABAD: The Federal Board of Revenue (FBR) has invoked Section 40-B of the Sales Tax Act 1990 and deputed field formation for monitoring of sales of sugar production at all sugar mills across the country.
The tax officers at the sugar mills across the country would check the clearance of stocks through the manually installed system of tax stamps on sugar bags.
Under the said enforcement provision of the sales tax law, the FBR or chief commissioner may post an officer of Inland Revenue to the premises of a registered person or class of such persons to monitor production, sales of taxable goods and stock position.
According to the FBR’s announcement made on Wednesday, sugar is one of the notified products on which monitoring or tracking of production, sales, clearances, stocks, or any other related activity is implemented. Affixation of tax stamps is mandatory on each and every bag of sugar produced or supplied violation of which is a punishable offense under Section 33(23) of the Act and liable to confiscation of products.
Furthermore, the defaulter upon conviction can also face imprisonment for up to three years.
Any effort at evasion of sales tax on sugar shall be dealt with iron hands and mill owners will be prosecuted for the offense, the announcement said.
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