It is highlighted that only 9 refund claims of five exporter-oriented sectors were received by Friday, the 30th August, 2019, and the payment has been made against the claim that was cleared by the risk management system of FASTER module. It is added that the number of refund claims received is not significant. FBR encourages the exporters to submit their claims in form Annex-H at the earliest so that their claims can be processed and paid.
In consequence of rescission of SRO 1125(I)/2011 dated 31.12.2011, which allowed zero-rating of inputs of five export-oriented sectors, the Federal Board of Revenue had committed with the exporters of the said sectors, ie, textiles, leather, carpets, sports goods and surgical goods, that refunds shall be paid to them within 72 hours of filing of refund claim. FBR has earlier clarified that submission of Annex-H, which is a form in the monthly sales tax return, shall be treated as submission of a refund claim. For this purpose, the FBR has developed a new IT module known as FASTER (Fully Automated Sales Tax e-Refund) and the same has been operationalized. This module shall process claims of exporters of five export-oriented sectors for the tax period July 2019, and onwards.-PR