September 06, 2013
Pakistan Cotton Ginners Association (PCGA) demanded of the Federal Board of Revenue (FBR) to ensure immediate payment of refund claims of ginners and removal of all ambiguities developed with the introduction of Computerised Risk-based Evaluation of Sales Tax (CREST) software to check claims for bogus refunds and illegal input tax adjustments against fake and flying invoices from the sales tax department.
A committee of PCGA headed by its chairman Mahesh Kumar met the senior member of Tax Bar Association to discuss their tax problems. The committee comprised Chairman Mahesh Kumar, Ex-chairmen Haji Muhammad Akram, Haji Muhammad Ibrahim, Amanullah Qureshi Ex-Vice chairmen Mian Mehmood Ahmed, Shehzad Ali Khan who is also chairman of FPCCI’s committee on Cotton, Khawaja Muhammad Azam, Hafeez Anwar, Khawaja Muhammad Arshad, Zaid Ali Khan and Asif Khalil, while Tax Bar’s senior member named Mehboob Ahmed Sheikh, Muhammad Nawaz Shaeikh, Muhammad Younus Ghazi, Hafiz Muhammad Saeed, Muhammad Javed, Muhammad Imran and Jamil Ahmed.
Mahesh Kumar demanded that condition of balance sheet with returns be waived. He said it is a great injustice with ginners to impose fine of Rs 50,000 for not filing withholding tax returns on monthly basis. Earlier penalty was only Rs 5,000. He said ginning is a seasonal industry which does its business three to four months. FBR should revise the time frame for filing tax-returns for cotton ginners. Courtesy Business Recorder
Published in ZaraiMedia.com