Proposed SalesTax Return

Dear sirs/ madam

The format of sales tax-cum- federal excise return has been amended with following two objectives:

i) Corporate taxpayers are already filing returns electronically. Now, starting from tax period July 2008, all registered persons shall file return electronically

(ii) The summary of invoices and production data statements for manufacturers which are now being received separately, shall be made annexures to the return to ensure better compliance and automating filling in of various columns of the return.

As a result of above, the return has also been simplified and has been restricted to single page instead of previous two. The return and its annexures can be seen in the worksheets of this file.

In cases where the Input Tax exceeds the Output Tax due from the registered person in respect of a tax period because of exports or other zero-rated supplies, the excess amount of input is refunded back to the taxpayer within 45 days. In all other cases of excess input tax, the Board can specify the procedure for refund.

The comments on the return are requested at the earliest so that the new return can be made part of the budgetary measures to be announced on 7^{th june 2008}

The Commets can be sent to the email noted below: