The Lahore Chamber of Commerce & Industry has urged the government to relax condition of disclosing CNIC for sale to unregistered persons for one year
Lahore (Pakistan Point News / Online - 03rd July, 2019) The Lahore Chamber of Commerce & Industry has urged the government to relax condition of disclosing CNIC for sale to unregistered persons for one year."Trading activities would come into a grinding halt if condition of disclosing CNIC for sales to unregistered persons is not delayed for at least one year."While addressing a mass gathering of businessmen, the LCCI President Almas Hyder said that disallowance of input tax relating to supplies made to an unregistered person without disclosing his CNIC is a burden on traders with inherent complications.
The meeting was also attended by the LCCI Senior Vice President Khawaja Shahzad Nasir, Vice President Faheem-ur-Rehman Saigal and Executive Committee Members.The LCCI President said that under the amendment introduced by the government in the Sales Tax Act, sellers are required to include the buyer's CNIC number on the sales tax invoices.The LCCI President said that condition of disclosing CNIC for sale to unregistered person would result in a potential misuse of CNICs and these can be used in fraudulent transactions of billions of rupees as reported from time to time.
He said that the buyers will also prefer purchases from unregistered sellers."There is no logic that trader will charge sales tax at retail end", the LCCI President said and feared that trading activities would be halted if condition of disclosing CNIC for sale to unregistered person is not delayed for at least one year.
