LAHORE: The Punjab Revenue Authority (PRA) has started scrutinizing the record and bank transactions of Punjab Urban Development.
According to the sources, PRA has seized record of Punjab Urban Development for investigation regarding sales tax on services. The PUD has huge record of bank transactions and services but not paying sales tax on services which is mandatory after introduction of Finance Bill 2012.
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While on the other hand PUD department has its own stance that Punjab Revenue Authority has no mandate to scrutinize the record of governmental organizations.
Earlier, PRA has also started monitoring of bank statements of National Engineering Services Pakistan (NESPAK) after getting their three years record, and after completion of investigation, the PRA will assess the total amount of taxes, which will be received from the company.
It may mention here that PRA has authority to receive sales tax on services after Finance Bill of 2012 but during last three years NESPAK and PUD have not paid taxes.
