WITHDRAWAL OF CONDITION OF MENTIONING COMPUTERIZED NATIONAL IDENTITY CARD (CNIC) NO. ON SALE INVOICES.

FBR has issued two notifications SRO 879(I)/2012 and 880(I)/
2012 both dated 17.07.2012. Vide these notifications, the condition of
mentioning of computerized NIC No. on the sale invoices has been
withdrawn with retrospective effect. It means that the condition of
mentioning the NIC on the invoices never existed.
However, it is very important to point out that manufacturers are
now required to collect 0.5% income tax from their wholesalers, dealers &
distributors and deposit the same in the national exchequer. For this purpose,
section 153A has been added in the Income Tax Ordinance, 2001with effect
from 01.07.2012. It is felt that while depositing this amount in the national
exchequer, NTN or CNIC of the wholesalers, dealers & distributors will, in
any case, be required to be mentioned.