Sales Tax Instructions

Sales Tax Instructions, 2009
(18) LOCAL AUTHORITY (16) ARTIFICIAL JURIDICAL
AUTHORITY
DECLARATION
I, ____________________________________ solemnly declare that to the best of my
knowledge and belief, the information given above is correct and complete and I have not
been allotted any Taxpayer Identification Number (TIN) nor have I applied for it
elsewhere. I understand that incorrect information can lead to punitive action.
TIN
ASSIGNED
Date Official Stamp Authorized Signature
(FOR OFFICE USE)
Date
S.I.C. SIGNATURE & STAMP
(TIN issuance Center)
********
C. B. R.‘s LEAFLET NO. 602/I/96, JUNE, 1996
KEEPING RECORDS AND ACCOUNTS
INTRODUCTION
If you are registered person or enrolled as a turnover taxpayer, you must keep
records of all the supplies you receive and make. You must also keep a summary
of sales tax for each tax period covered by your tax return. This summary is
called a sales tax account. There is no prescribed format. However, it should be
in form that is best suited of the need of the taxpayers‘ business as well as for the
auditors‘ checking to determine the tax liability.
1. Does everyone have to keep the same record?
No. There are the three categories of persons required to keep broadly similar records in
English or Urdu. The three categories are:
(I) registered persons who are required to pay the sales tax in the normal
regime.
(II) Importers, distributors and wholesalers who simply parts on the
incidence of the sales tax paid at earlier stage;
(III) Enrolled persons who pay the turnover tax;
NOTE: The persons in category I can simultaneously operate in category II; the same is
true about persons in category III.
They have to maintain the following records in common:-
-- records of supplies made.
-- records of goods purchased.
-- records of zero-rated and exempt supplies; and
-- such other records as may be specified by the Board.