Every person registered under the Sales Tax Act,1990, or the Federal Excise Act, 2005, is required to file a Sales Tax Return.
A Sales Tax return is the taxpayer’s document of declaration through which taxpayer not only furnishes the details of transactions during a tax period but also deposits his Sales Tax liability.
On the return form, the taxpayer declares for a particular tax period and respective input tax and output tax, at prescribed rate of Sale Tax. In case input tax exceeds output tax, the amount of refund claimed or excess input tax is also declared in the return.
A registered person shall file a single return for all the possible sectors that the registered person is operating in. Due date for the single return for the sectors would be the due date applicable to his major activity in terms of sales tax or federal excise duty payable.
Where a Sales Tax Return is not filed within a period of six months after the due date, the same shall be filed only after approval of the Commissioner Inland Revenue having the appropriate jurisdiction.
Before filing your Sales Tax Return is to get yourself registered with Central Board of Revenue (CBR).
The registration with CBR provides you with a Sales Tax Registration Number (STRN) or User ID and password. These credentials allow access to efile portal, the online portal for filing Sales Tax Return.
if tax paid by a registered person on taxable purchases made during a tax period exceeds the output tax on account of zero rated local supplies or export made during that tax period, the excess amount of input tax shall be refunded to the registered person not later than 45
Federal Excise Duty (FED) concepts would not only ensure that the tasks are performed easily but also in the prescribed manner.
A taxpayer shall issue a letter of authorization, duly signed by the proprietor, partner or director of the company or, business concern, which shall be submitted by the authorized representative before the adjudicating authority or Appellate Tribunal.
Sales Tax Basics
Before Registration and Filing of your Sales Tax Return, it is recommended that one should establish basic understanding regarding these processes. Knowledge of basic concepts would not only ensure that the tasks are performed easily but also in the prescribed manner.
