KARACHI: Federal Board of Revenue has urged the registered persons with the revenue authority to submit their details of sales by August 10 to claim input adjustment for the month of July.
According to Inland Revenue Member (Operations) Muhammad Irshad, the sales details have been demanded in order to get an adjustment in the taxpayers’ liabilities.
The official sources said that the input adjustment would only be available against those supplies which were verified by the online system, adding, “The system has been launched to stop sales tax frauds and eliminate bogus companies.”
The Member said that FBR has made it clear to person that no claims for input adjustment or refund would be entertained on such claims where the authorities had not received payments. The department had detected misuse in sales tax refunds and input adjustments through fake and flying invoices in the past, he added.
