ABBOTTABAD, Jan 13 (APP):Federal Board of Revenue (FBR) Thursday introduced Point of Sale (POS), a specialized advanced inventory management system which was developed especially for retailers.
Assistant Commissioner FBR regional office Abbottabad Junaid Khan informed media in a press conference.
He further said that this web-based POS System is best suitable for retail stores, salons, restaurants, boutiques, hardware stores, cash and carry and others.
The POS system does not require or has specific hardware limitations and can be easily operated using a standalone system.
Junaid Khan said that the FBR POS system is the one that has brought shopkeepers into the tax network and all the traders should connect with the POS system.
Customers should also get the receipt from the shop from where they buy the goods, if the trader is not giving the receipt then the customer should inform FBR and we would take action against them, adding he said.
The AC said that this system will benefit the traders and the customers as well, FBR also announced a prize scheme of Rs. 1 million in the first phase, Rs 5 lakh in the second phase, Rs. 100,000 in the third phase and Rs 50,000 in the fourth phase.
He said that the scheme would be formally inaugurated by the Prime Minister of Pakistan Imran Khan.
We also provide the facility to connect the recent POS with the FBR system, If you are not currently using POS, you should be a part of the system now as our point-of-sale system is connected to the FBR’s Real-Time system and complies with current regulations, Junaid Khan said.
He said that we have taken stern action against the traders who were not connected with the system and have also imposed fines of over five million rupees.
This system would benefit traders and customers, we would also start a campaign and would visit bazaars of the city to aware the traders of the benefits of the POS and convince them to become a part of the system.