Shopping Bills to have CNIC Details – Budget 2019-2020 – Research Snipers

Shopping Bills to have CNIC Details – Budget 2019-2020

It has been proposed by FBR under Finance Bill 2019-2020 to have Computerised National Identity Cards (CNIC) details in shopping bills. So now the shopping bills would have CNIC details.

It has been proposed in Finance Bill 2019-20 that shopping invoices should have CNIC of the buyer.

The bill has proposed that invoices will be disallowed that do not have the CNIC of the buyer claiming input tax paid. Once this step is taken, fake and flying invoices will not be used as only the real buyer will be able to claim the input tax paid.

Must read: No New Passports for Applicants Having CNIC Photos in Blue Background

There is no restriction of language in the bill, it can be in Urdu or in English.

The business community is resisting this proposal made in the Finance Bill 2019-20. We don’t know yet whether the bill will be passed in the parliament by the government or the government will submit to the pressure of the business community.

Also, FBR has proposed to charge 3% value addition sales tax on the imported goods for the use in an industrial process that are subject to customs duty. This excludes two slabs of 16 percent and 20 percent.