Asked by
Birds of the sky (2 Golds)
Tuesday, 22 Oct 2019, 12:56 AM
at (Consultancy
Business)
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Answer(s):
If the fulfillment of the six conditions, no value added tax (VAT / VAT) will be paid to the natural gas, water and electricity bill of the exporting company (EPZ) of the country. The order was recently issued from the National Board of Revenue (NBR), which has been in force since September 23, sources said. The second secretary of the institution's laws and regulations department said. The order signed by Tareq Hasan said that 100 per cent of VAT registered direct exporters, 100 per cent hiding exporters and EPZs will be exempted from VAT / VAT exemption. To avail this benefit, the following conditions must be followed. These conditions are to be applied to the concerned VAT Commissioner along with the meter number used for export work at the factory or manufacturing site. Anyone wishing to avail the benefit of the exemption from the bill of the month, must apply by the 7th of the month. Upon receipt of the application, the Commissioner will examine the export activities and verify the name, address, VAT registration number and submission of the applicant company and then issue an order for the exemption to take effect. The name of the month in which the exemption benefit applies will be clearly mentioned in the order. In the case where the service authority issues the bill directly in the name of the EPZ rather than in the name of the concerned organization, the EPZ authority will issue certificates specifying the use of the service and the amount of the bill. On the basis of the Commissioner's certificate, VAT exemption facility will be provided if the company's export is satisfactory. However, VAT will not be exempted from the bill used by the EPZ authorities or any other office. In any case, VAT exemption will not apply to services used in any office other than the factory or manufacturing facility of the exporter. In the terms of the order, it is further stated that if the same meter uses more than one company, each of which does not produce export products, then the applicable VAT on electricity bill will have to be paid. In this regard, sources in NBR's VAT department said that export-oriented factories get VAT exemption in the use of such national services, including gas, electricity and water. But there are allegations that many factories are misusing it under the hood. The company, which is not particularly involved in exports, uses the service under the same connection as office or home. As a result, the government is deprived of huge revenue. This is why conditions have been added. Only those who accept the conditions will get this benefit. Answered by Birds of the sky (2 Golds) Tuesday, 22 Oct 2019, 12:57 AM |