Karachi, September 10, 2013 (PPI-OT): Saquib Fayyaz Magoon (Ex Chairman Indentor Association of Pakistan ) highlighted the Problems facing by five Zero Rating Sectors (now 2%) , According to SRO 221(Amendment of SRO 1125) Goods can be supplied @2% to registered or unregistered persons doing business in above 5 Sectors, Problems is that how “CREST” Programme will verify unresgistered person of Five Sectors.
In addition there is no option showing in “PARAL” for Traders ,Suppliers and commercial Importers to registered as a Person doing business in Five sectors , Currently only Manufacturers have such Option. So If goods supply to Traders/Suppliers then “CREST” Generate Discrepancies and in result various Show cause notices have been Issued by FBR.
He said there are two options to solve this problem ,(1) Traders /Suppliers Should have Choice in “PARAL” to registered themselves as Person doing business in five sectors, (2) All the items in Table I of Above SRO are Raw Materials of above Five Sectors , 80-90% consuming in these sectors , So all items of Table I should be allowed @ 2%S.T without any other conditions.
FBR Should Solve these problems on preference Bases as Geniune Tax Payers facing difficulties to run their business .”
For more information, contact:
Indentor Association of Pakistan
Head Office 8/8, Rimpa Plaza, M. A. Jinnah Road, Karachi