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    Sales Tax Return Report

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    Hassaan 19
    The buyer had provisionally claimed input tax credit for purchases from suppliers on their invoices, but the suppliers had not declared these purchases in their sales tax and federal excise returns by the deadline of the 10th of the next month. As a result, the buyer's input tax credit for these purchases is adjusted/recovered according to the Sales Tax Act. The buyer is advised to contact the suppliers and persuade them to declare the purchases and file their returns so that the buyer can obtain the input tax credit for these purchases.

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    Sales Tax Return Report

    Uploaded by

    Hassaan 19
    6 views1 page
    The buyer had provisionally claimed input tax credit for purchases from suppliers on their invoices, but the suppliers had not declared these purchases in their sales tax and federal excise returns by the deadline of the 10th of the next month. As a result, the buyer's input tax credit for these purchases is adjusted/recovered according to the Sales Tax Act. The buyer is advised to contact the suppliers and persuade them to declare the purchases and file their returns so that the buyer can obtain the input tax credit for these purchases.

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    Sales_Tax_Return_Report (51)

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    The buyer had provisionally claimed input tax credit for purchases from suppliers on their invoices, but the suppliers had not declared these purchases in their sales tax and federal excise returns by the deadline of the 10th of the next month. As a result, the buyer's input tax credit for these purchases is adjusted/recovered according to the Sales Tax Act. The buyer is advised to contact the suppliers and persuade them to declare the purchases and file their returns so that the buyer can obtain the input tax credit for these purchases.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    6 views1 page

    Sales Tax Return Report

    Uploaded by

    Hassaan 19
    The buyer had provisionally claimed input tax credit for purchases from suppliers on their invoices, but the suppliers had not declared these purchases in their sales tax and federal excise returns by the deadline of the 10th of the next month. As a result, the buyer's input tax credit for these purchases is adjusted/recovered according to the Sales Tax Act. The buyer is advised to contact the suppliers and persuade them to declare the purchases and file their returns so that the buyer can obtain the input tax credit for these purchases.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Recovery/adjustment of provisionally allowed input tax credit

    If a supplier has not so far declared the purchases of buyer in their sales tax and federal excise returns, however, the buyer allowed provisional adjustment of input tax against
    their invoices but the supplier has failed to file their returns by the 10th day of the next month, therefore, the buyer’s said inadmissible input tax credit is adjusted/recovered in
    terms of proviso to section 7(2)(i) read with section 8(1)(l) of the Sales Tax Act, 1990. The buyer, therefore, is advised to contact the said suppliers and persuade them to
    declared the said purchases and file their returns so that the buyer can get input tax credit of the said purchases.

    Name of Supplier Registration No. Tax Period Sales tax claimed on purchases
    GRANADA TEXTILE MILLS (PUBLIC )
    0225868 Mar-2023 130500
    LIMITED
    GRANADA TEXTILE MILLS (PUBLIC )
    0225868 Mar-2023 184500
    LIMITED
    GRANADA TEXTILE MILLS (PUBLIC )
    0225868 Mar-2023 234900
    LIMITED
    GRANADA TEXTILE MILLS (PUBLIC )
    0225868 Mar-2023 177120
    LIMITED

    Total: 727020

    Page 1 of 1 Printed on : Wed, 10 May 2023 10:26:36

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