POS Installation: Deadline expires soon
Tuesday December 31, 2019
Islamabad: The Federal Board of Revenue (FBR) has announced December 31, 2019 (today) as the deadline for installation of ‘Point of Sale (POS)' software to all big shopping malls and restaurants – a news source reported. In case of non-compliance, the FBR will seal the business premises and withdraw the facility of reduced sales tax rates available to these businesses. Read: FBR to consider fining POS non-complying retailers According to details, the board sent tax notices to more than 130 retailers and restaurants in Islamabad, warning them of the deadline for installation of the POS software. These notifications say that under the amendments in Rule X1V-A of the Sales Tax Registration Rules, 2006 read with SRO 1203 (1)2019 dated 10-10-2019, the FBR has decided to replace RIMS software with Point of Sales. The information letter in this regard has already been issued to all retailers and restaurants for immediate implementation. Read: FBR shares deadline for nationwide POS implementation These notifications also stated that failure to comply will result in proceedings under Section 40C of the Sales Tax Act 1990.
