The VAT related documents should be maintained up to 5(Five) years in order to facilitate assessment of tax. The original supplier of the telecommunication service is the supplier of telecommunication. Telecommunication goods having value paid in advance are the telecommunication goods in which cases their value have been paid in advance by any telecommunication supplier through his agent. Any directly provided supply on construction or engineering activities, building reconstruction or extension work. Tax has to be paid within 15 days of the following month of each Tax Period.
- The Instructions to fill in Tax Invoice must be followed in order to issue correct Tax Invoice.
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In order to conduct Supply under Supervision, the Commissioner, by order, shall constitute one or more teams comprising one or more officers and staff. Such order by the Commissioner shall specify venue, time and duration of the Supervision. The Supervision Team, before starting with the Supervision, shall inspect the place of supply and submit a preliminary report to the Commissioner in From VAT-13.1. Any VAT official not below the rank of Assistant Commissioner, being duly authorized by the Commissioner, can undertake search entering commercial concerns and can examine and forfeit the records, files, documents and accounts. (c) Performing any other duty or responsibility and activities assigned by the Board with a view to achieving objectives of this law. The unregistered individuals shall only be entitled to have Advance Tax reimbursed.
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In case of import VAT has to be assessed multiplying 15% directly on the VAT imposable value. VAT imposable price has to be determined adding all taxes with imposable Import Duty (except VAT and advance Income Tax). Individuals registered or enlisted under the purview of the Value Added Tax Act 1991 shall have to be re-registered or re-enlisted under the new law.
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