Further Extension in date for Payment / Submission of Sales Tax & Federal Excise Returns. Tax Period Jan – 2020, Feb – 2020 & Mar – 2020

 

Tax Period March – 2020

The date for payment of Sales Tax and Federal Excise Duty for Tax Period March-2020 was originally 15’ April’ 2020. FBR had extended the payment date up to 27’ April’ 2020 vide its letter dated April 18, 2020. Further extension has been granted upto 12’ May’ 2020 vide FBR’s letter dated 30’April’ 2020.

The date for submission of Sales Tax and Federal Excise return for March-2020 was 18’ April’ 2020 originally which was extended upto 30’ April’ 2020 by FBR. FBR has now extended the last date for submission of return upto 15’ May’ 2020 through letter dated 30’April’ 2020.

 Tax Period February – 2020

The date for payment of Sales Tax and Federal Excise Duty for the Tax Period February-2020 that was originally 15’ March’ 2020. FBR had extended the payment date up to 31’ March’ 2020 vide its letter dated 24’ March’ 2020 and further extended the payment date upto 12’ April’ 2020 vide FBR’s letter dated 31’ March’ 2020. Now, further extension has been granted upto 12’ May’ 2020 vide FBR’s letter dated 30’April’ 2020.

The date for submission of Sales Tax and Federal Excise return for February-2020 was 18’ March’ 2020 originally, which was extended upto 15’ April’ 2020. FBR has now extended the date for submission upto 15’ May’ 2020 vide its letter dated 30’April’ 2020.

Tax Period January – 2020

The date for payment of Sales Tax and Federal Excise Duty for the Tax Period January-2020 that was originally 15’ February’ 2020. FBR had extended the payment date up to 31’ March’ 2020 vide its letter dated 24’ March’ 2020. It was further extended upto 12’ April’ 2020 vide FBR’s letter dated 31’ March’ 2020. Now, further extension has been granted upto 12’ May’ 2020 vide FBR’s letter dated 30’April’ 2020.

The date for submission of Sales Tax and Federal Excise return for January-2020 was 18’ February’2020 initially, which was extended upto 15’ April’ 2020. FBR has now been further extended the date for submission upto 15’ May’ 2020 as announced vide its letter dated 30’April’ 2020.

Summary of the extensions granted from time to time is given in Annex-A in a tabular form.

 Integration of TIER-1 Retailers with FBR’s System

S.R.O.344(I)/2020 dated 29’ April’ 2020

In terms of Section 8B of the Sales Tax Act, 1990, the adjustment of input tax is restricted up to 90% of output tax for a tax period.  FBR through its notification No. S.R.O.344(I)/2020 dated 29’ April’ 2020 has removed such restriction in respect of Tier-1 Retailers who have integrated their POS with FBR’s system. Accordingly, now Tier-1 retailers have been excluded from the purview of section 8B and entitled to adjust 100% of input tax incurred during the tax period.

Extension in date for Filing of Annex-H for Tax Period Jul-2019 to Nov-2019

FBR has extended the date for submission of Annexure-H (stock statement of input goods / services) to the sales tax return upto 15’ May’ 2020 for tax period of July 2019 to November 2019. In this regards, the FBR has issued notification No. C.No. 9(11) / ST / MISC / COND / 2016 dated 30’ April’ 2020.

If you require our assistance in understanding the specific implications of this Alert to your business, please feel free to contact us.

 

Muzammal Rasheed
Chief Executive / Partner
muzammalr@enfoque.com.pk

 

Laeeq Siddique
Partner
laeeqs@enfoque.com.pk

 

Extensions granted by FBR

Tax Period Description Original Due Date Extension vide Letter Dated March 24, 2020 Extension vide Letter Dated March 31, 2020 Extension vide Letter Dated April 18, 2020 Extension vide Letter Dated April 30, 2020
January 2020 Payment Date 15-Feb-20 31-Mar-20 12-Apr-20 12-May-20
Submission Date 18-Feb-20 15-Apr-20 15-May-20
February 2020 Payment Date 15-Mar-20 31-Mar-20 12-Apr-20 12-May-20
Submission Date 18-Mar-20 15-Apr-20 15-May-20
March 2020 Payment Date 15-Apr-20 27-Apr-20 12-May-20
Submission Date 18-Apr-20 30-Apr-20 15-May-20

 

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