FBR sets timelines to clear deferred ST refund claims
ISLAMABAD: The Federal Board of Revenue (FBR) has prescribed stage-wise timelines for processing and disposal of sales tax refund claims deferred through its “FASTER” system, directing field formations to clear the backlog and prevent accumulation of pending claims. According to the FBR’s instructions issued to the field formations, a significant number of refund claims deferred by the FASTER…
The Federal Board of Revenue (FBR) has outlined stage-wise timelines for processing and clearing the backlog of sales tax refund claims that have been deferred through its "FASTER" system. This initiative aims to expedite the resolution of pending claims and address concerns raised by taxpayers over prolonged pendency. The board has directed field formations to ensure strict compliance with the prescribed timelines, including the submission of requisite documents within seven days of being alerted by the FASTER system.
Failure to comply may result in the initiation of proceedings for a show-cause notice. The FBR has also provided a checklist of documents that refund claimants must furnish, such as sales tax registration number (STRN), NTN, sales and purchase invoices, and bank account details. However, the prescribed timeline does not apply to refund claims related to excess carry-forward amount and input tax carry-forward under Section 8B of the Sales Tax Act, 1990.
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