FBR asks retailers to integrate POS with computerised system

PESHAWAR: Chief Commissioner, Regional Tax Office (FBR) Peshawar, Sardar Ali Khwaja has said that the integration of the Point of Sales (POS) of all those retailers who fulfilled criteria under Section 2 (43A) of the Sales Tax Act 1990 was mandatory with computerized system of the Federal Board of Revenue (FBR), said a press release issued here on Monday.

He said that before installation of the software system of POS, FBR has nominated 42 vendors and any of them could be contacted.The chief commissioner said, the installation of POS system was legally bound and the violators would face heavy penalty. He further said that several retailers in the jurisdiction of the Regional Tax Office have connected themselves with the new system while a survey for persuasion of others on registration was in progress.

Highlighting the utilities of the new system, he said it help in making sales tax through an automatic procedure and there is no levy of items that comes under Sixth Schedule.The system, he said has also some other benefits and after all it was of crucial importance in giving documentary shape to economy. He urged upon the trading community to make the system successful for bringing improvement in national economy.