SARGODHA - The regional tax office has enforced Sales Tax Section 40-B on two important business sectors of the region, stone crushers and coal mines, on the directions of the Federal Board of Revenue.
According to a handout issued here on Friday, the main purpose was to estimate the actual production and its transmission besides sale of stone crushers and coal mines sectors. For this purpose, special teams had been formed on the directions of Chief Commissioner RTO Sargodha Dr Fahim Muhammad, while for this operation, 16 teams had been deployed on stone crushing plants located in district Sargodha and 22 teams on coal mines located in district Khushab. These teams were being headed by Deputy Commissioner Inland Revenue Chaudhry Naeem and Deputy Commissioner Inland Revenue Ali Saleh Hayat Kalyar.
According to a spokesperson for the Regional Tax Office, these teams would record the business activities of these sectors for an initial period of one month.
He said that these two sectors were not depositing their due taxes in the national exchequer while according to the statistics obtained from the FESCO authorities, stone crushers use nine crore twenty lac units of electricity annually and on this basis, the estimated total production is approximately fifty billion rupees and according to the current sales tax rate, a limited estimate is that the national exchequer was suffering a loss of ten billion rupees annually.
In addition, not only was sales tax not being paid in the coal sector, but fake invoices were also being traded.
Effective legal action was underway against the elements and soon the involved persons would be given punishments under the sales tax laws, he added.
