As part of the government’s efforts to enhance revenues, the federal tax authorities have decided to implement the electronic track and trace system in the cement sector of the country. The sector has four months to implement the system.
In a notification issued by the Federal Board of Revenue on Thursday, the Electronic Monitoring System will be implemented to track the production and sale of goods in a legal manner on all manufacturing sides.
The notice was issued by the Inland Revenue-Operations department, following approval from FBR’s further added that “no cement bag will be allowed to be removed from a production site, factory, or manufacturing plant or import station without affixation of tax stamps / unique identification markings with effect from October 1, 2022.”
The notice further said that the markings can be obtained from the FBR or an FBR licencee.