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Legal Folio > Sale Tax Return

FILE SALES TAX RETURN

Every person registered under the Sales Tax Act,1990, or the Federal Excise Act, 2005, is required to file a Sales Tax Return.

A Sales Tax return is the taxpayer’s document of declaration through which taxpayer not only furnishes the details of transactions during a tax period but also deposits his Sales Tax liability.

On the return form, the taxpayer declares for a particular tax period and respective input tax and output tax, at prescribed rate of Sale Tax. In case input tax exceeds output tax, the amount of refund claimed or excess input tax is also declared in the return.

A registered person shall file a single return for all the possible sectors that the registered person is operating in. Due date for the single return for the sectors would be the due date applicable to his major activity in terms of sales tax or federal excise duty payable.

Where a Sales Tax Return is not filed within a period of six months after the due date, the same shall be filed only after approval of the Commissioner Inland Revenue having the appropriate jurisdiction.

CATEGORIES OF SALES TAX RETURN

For different categories of taxpayers, monthly, quarterly or annual returns may be filed on prescribed format as follows:

MONTHLY RETURN

Under the standard procedure a registered person is required to file monthly return Annexure C on 10th and Payment on 15th and return by the 18th day of the month following the period in which the supplies were made, in the designated Branches of National Bank of Pakistan. In case of certain categories as mentioned below Procedure has been devised to file return on monthly and quarterly basis.

QUARTERLY RETURN

The taxpayers falling exclusively in the category of CNG required to file the return on quarterly basis.

ANNUAL RETURN

A manufacturer is to file annual Sales Tax return, for a financial year by the 30th September of the following financial year.

FINAL RETURN

If a person applies for de-registration, the person shall before such de-registration, furnish a final return to the appropriate Commissioner having jurisdiction in the at such time as directed by the appropriate Commissioner.