ISLAMABAD: After issuing SRO (I)/2014 and replacing Form STR-1, the Federal Board of Revenue has issued a new sales tax registration form for fresh applicants under the new registration system.
The board has provided the applicants with option to file applications with the Local Registration Office (LRO). Similarly if a person is unable to file application for registration or change particulars in registration in ‘REGSYS’ may submit the prescribed application and required documents to the LRO concerned, which shall ensure entry of the application and documents in ‘REGSYS’ within three days under the new procedure.
The application shall be processed electronically by ‘REGSYS,’ and if found complete in all respects, shall be assigned a risk score. In case the application is found incomplete or incorrect, Objection Memo shall be issued electronically to the applicant, allowing him a period of ten days to remove the objections before the application is rejected. In case the application is assigned a low risk score, registration certificate will be issued by ‘REGSYS’ as set out in the Form STR-5 annexed to the rules, which will be sent to the applicant by courier service.
The remaining applications shall be sent to the concerned LRO for further inquiry, which may include physical verification. The officer conducting physical verification shall take GPS-tagged photographs, as specified and electronically load them into ‘REGSYS’. A person who has applied for registration as manufacturer, and is not assigned low risk score by ‘REGSYS’, shall be registered only after the LRO has physically verified his manufacturing facility in the manner prescribed, it added.
