Cement Firms Resisting Performance of Track and Trace System
Cement Firms Resisting Performance of Track and Trace System of the Federal Board of Revenue (FBR) by giving illogical reasoning and explanations for postponing the system’s performance at their factories.
According to reports, cement producers nationwide are refusing the introduction of the Federal Board of Revenue’s (FBR) track and trace system at their plants by citing unsubstantiated reasons for the delay. The manufacturers have told the FBR that implementing the system could be impeded by the humid, hot, and dusty climate.
In the most recently held FBR gathering with the cement industry association, the tax authorities advised the cement industry to implement this system within one factory production line. After testing the system, it will be implemented across the entire factory.
The system of track and trace is operational thanks to the fertilizer units. However, its importance is limited since the government provides an exemption from sales tax on fertilizers. But cement manufacturing facilities must install applicators to allow the system to be fully functional. Once these applicators are in place, we can fully benefit from this track-and-trace system.
Sources say the close of March 2023 will mark the completion of track and trace at cement mills. They had also set the timeframe for July 1st, 2022, to implement this system within the cement industry.
As per the rules in The Federal Board of Revenue (FBR), licensees are responsible for paying for any assets, whether tangible or intangible, such as applicators and the services required to apply unique identification markings or stamps, as well as the installation and operation, and maintenance. The licensee bears the costs of these services and assets for the duration of their license. Any assets the licensee uses to support this system remain the ownership and responsibility of the licensee.
FBR Rules require the use of distinctive markers for identification.
The markings should use non-removable, anti-tampering material for the primary material. The substrate should show evidence of any attempted tampering. Furthermore, the stamp’s dimensions should be suitable for use by most label makers in the marketplace.
Through the implementation of this system, massive production and manufacturing in various sectors will undergo digital surveillance. This will stop revenue leaks. And reduce human intervention. This will create an efficient taxpayer compliance process. This will result in a reliable tax compliance system across the country.
Resistance from Cement Companies
Read More About Area Converter, Plots for Sale, and House Building Materials Prices:
Aluminum Windows Price in Pakistan