FBR to conduct audit of fertilizer sector
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The Federal Board of Revenue (FBR) has decided to conduct an audit of the fertilizer sector, reported 24NewsHD TV channel on Thursday.
Quoting sources, the channel reported that the audit would be conducted in the heads of income and sales tax.
It would be determined that at what rate the fertilizers were supplied to the dealers, and how much was supplied. Besides that the subsidy offered by the government would also be calculated.
The Board seniors have directed the concerned officials to complete the fertilizer sector’s desk audit as well as collect all third party details by February 15, 2021.
They have also been directed that the audit report be completed by April 15, and that all details with respect to the replies given by the fertilizer sector be collected in May.
The FBR officials have also been given the deadline of June 25 for issuing assessment orders while the deadline of June 30 to submit final audit report.