FBR mandates electronic invoicing for consumer goods businesses
MG News | December 13, 2023 at 10:09 AM GMT+05:00
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December 13, 2023 (MLN): The Federal Board of Revenue (FBR) has directed all importers, manufacturers, wholesalers, dealers, and wholesaler-cum-retailers engaged in fast-moving consumer goods to install a Licensed Electronic Invoicing system and issue real-time verifiable Electronic Sales Tax invoices.
The board imposed this in accordance with Rule 150Q of S.R.O. 1525(1)/2023, exercising the powers conferred by Section 50 of the Sales Tax Act, 1990.
The notification further states that fast-moving consumer goods are those consumer goods that are supplied in retail marketing as per the daily demand of a consumer [excluding durable goods].
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