[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Cement producers in the nation are opposing the Federal Board of Revenue’s (FBR) track and trace system by providing illogical excuses for delaying the deployment of the system at their facilities.
According to sources who spoke to ProPakistani, cement producers warned the FBR that the track and trace system would take longer to establish because of the hot, muggy, and dusty conditions.
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The tax authorities unequivocally said to the industry that each firm must implement the track and trace at one manufacturing line during the previous FBR meeting with the cement association. The device would be installed throughout entire factories following a successful test. The track and trace system is now functioning at the fertiliser units, but its importance has decreased because fertilisers are exempt from sales tax. On the other hand, cement manufacturing plants must have the applicators installed. The track and trace system will function properly once the applicators are installed.
The system was anticipated to be completely operational at the cement factories by the end of March 2023, according to sources. For the cement industry, July 1, 2022, was the cutoff date for the track and trace system’s adoption.
All tangible and intangible assets, including applicators, and services necessary for the application of distinctive identification markings or stamps, including installation, operation, and maintenance, shall be the responsibility and the expense of the licensee for the duration of the licence, according to Federal Board of Revenue (FBR) Rules. The licensee shall own the assets installed by the licensee for the use of the track and trace system.[/vc_column_text][/vc_column][/vc_row]
