SITE industrialists concerned over delay in sales tax refunds.

KARACHI -- Suleman Chawla, President of SITE Association of Industry, while expressing deep concerns over poor performance of the recently launched Fully Automated Sales Tax e-Refunds (FASTER) module, stated that FBR claimed of processing payments of Sales Tax Refunds within 72 hours through FASTER module but the ground reality was totally contrary to this claim as many exporters have not received anything. He pointed out that many exporters have not received outstanding refunds for July 2019 which was really worrisome and too disappointing for the Business and Industrial Community as the FASTER module was launched with a commitment to release refunds within 72 hours but it was not happening at all, which has intensified the hardships for exporters who are finding it almost impossible to stay afloat due to delays in release of refund claims and rescission of SRO 1125(I)/2011 dated 31.12.2011, which allowed zero-rating of inputs of five export-oriented sectors. 'It was a matter of grave concern that a system titled FASTER for processing refund claims within 72 hours, has actually made the entire process too messy and...