A.   BACKGROUND (BG)

1.   This refers to the related Important TLQCs in trail, blue, italic and double line (a) 3012 of 22.1.25 about SST Tax Fake & Correct Invoice format (b) 2954 of 21.11.24 about RA against blacklisting Suspension & fake invoices issues

2.   We also refer to several Other TLQC including the following:

(a) 2905 of 20.9.24 about Fake Refunds to Tea Mafia: FBR Officer suspended & being investigated

(b) 2647 of 22.2.24 about FST 1,700M fake input recently, 22B+ now, Be careful & KCV

B.   Updated Commentary

Further to KQU 3264 dated 27.2.25, being an important matter, we would inform you about Adjustment of Sales Returns through Credit Note against Un-Registered Supplies vide unreported FBR letter C.NO.5(17)ST-L&P/2021/23143R dated 17.2.25 (received recently from reliable sources) to all the chief commissioner  (Attachment 3046.1) with emphasis ours in bold for quick reading.

2.   As per the letter, earlier FBR letter of even number C.NO.5(17)ST- L&P/2021/23143R dated 5.9.23 on the subject was referred and stated that sales returns from unregistered buyers are adjustable through Credit Notes under Section 9 of the STA, 1990 read with Rule 20 of the STR, 2006.

3.   The facility of adjustment of sales returns through Credit Notes in the cases of un-registered supplies were restricted in the automated system due to misused by the fraudulent elements by adjustment of Fake Credit Notes. The claimants were required to approach CIR concerned having jurisdiction for allowing adjustment of such credit notes under the law. The CIR, after due verification/ authentication of transaction(s), was required to forward the case to FBR with express Recommendations for allowing in automated systems.

4.   Now the automated system has been developed in IRIS Module by providing an interface to the Commissioner-IR concerned for scrutiny and approval of such requests of taxpayers.

5.   Therefore, the field formations are requested to dispose of cases of taxpayers accordingly through an automated system under the relevant provision of law.

C.   Kasbati & Co Recommendations

Owing to the above and for Tax, Levies, Corportate Compliance & Savings, we recommend your team member to attend the following Workshop and Courses.

1.   Indirect Tax Workshops in April 

2.   Kasbati & Co Courses 

Moreover, we recommend for your Long-term Team Members to attend Certificate of Tax Management Courses, Physically at Karachi and Online for Karachi Lahore, Islamabad, etc. Click here for Flyers and Tentative Linkes for each of the following Courses.

3. More Details about Workshop & Courses

For more details, please contact Mr Abid or Moosa at UAN # 0331 1118 786 & Mobile no. 0335 2204 786 email TO: abid@professional-excellence.com With CC: amsal@kasbati.co, info.kasbati@professional-excellence.com.

D.   Further Details & Services 

Should you require any clarification or explanations in respect of the above or otherwise, or require Income Tax, Federal & Provincial Sales Tax or Withholding Tax Advisory, Statement or Return Filing or Review services, or related accounting matters like the above, please feel free to email Mr Amsal at amsal@kasbati.co with CC to info.kasbati@professional-excellence.com. Your Good self may continue to get other services from your current Tax & Legal Advisors.

Best regards for Here & Hereafter
Asif S Kasbati (FCA, FCMA & LLB)

Managing Partner 

Kasbati & Co (1400+ Tax, Levies, Companies, Economy, Inflation, HR, Banking, Finance, etc

Quick Commentary Service Provider and High Level 440+ Tax & Levies Laws Consultants) 

Head of Tax & Professional Excellence Services (Symbols of High Quality Practical Tax, Levies & Corporate Training for Beginners to High Levels' Professionals) PTCL: 92-21-34329108 Mobile: 0334 322 3161 Website: kasbati.co Facebook:  https://www.facebook.com/taxexcellence/ Google Map link: Tax Excellence  YouTube Channel Tax Excellence