FBR seals five shops in Karachi for failure to comply with POS System

MG News | February 02, 2023 at 04:37 PM GMT+05:00

0:00

February 02, 2023 (MLN): The Federal Board of Revenue (FBR) has taken action against five shops in Tariq Road, Karachi for failing to comply with the Point of Sales (POS) system.

The affected shops include three branches of Belly's Shoes, Ilyas Collection, and Andy Buds.

A team from the FBR led by Deputy Commissioner Zulfiqar Ali Khokhar and Jamshed Ali Siddiqui, along with MIS Officer, Assistant Commissioner Aqeel Awan, and Senior Auditor Altaf Main, were present during the inspection.

According to Jamshed Ali Siddiqui, the installation of the POS system has helped in collecting sales tax from the shops.

However, these five shops were found to be collecting sales tax but not depositing it in the national treasury.

Despite sending notices to these shops for three months and granting extra time, they failed to comply, leading to the sealing of their premises on the instructions of the FBR.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,115.82 431.76M	-1.03% -1778.46
ALLSHR	102,630.82 1,022.40M	-0.72% -743.98
KSE30	51,478.54 123.81M	-1.23% -641.56
KMI30	245,731.79 184.52M	-1.22% -3035.83
KMIALLSHR	66,650.32 595.11M	-0.81% -541.20
BKTi	47,279.59 41.00M	-1.38% -660.98
OGTi	35,704.94 10.73M	-1.65% -598.06

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,390.00	80,730.00 79,370.00	45.00 0.06%
BRENT CRUDE	100.25	102.92 99.55	0.19 0.19%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-3.30 -2.91%
ROTTERDAM COAL MONTHLY	107.10	107.75 106.20	2.10 2.00%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	94.68	98.64 93.82	-0.13 -0.14%
SUGAR #11 WORLD	14.69	14.75 14.46	0.15 1.03%