Preliminary Chapter- 01
(d) annual turnover from all supplies does not exceed Rs.10 million;- CREST [u/s 2(5AC)]
means the computerized program for analyzing and cross-matching of sales tax returns, also referred
to as Computerized Risk-based Evaluation of Sales Tax;- Computerized system [u/s 2(5AAA)]
computerized system" means any comprehensive information technology system to be used by the
Board or any other office as may be notified by the Board, for carrying out the purposes of this Act;- Customs act [u/s 2(6)]
Customs Act' means the Customs Act, 1969 and where appropriate all rules and notifications made
under that Act- Defaulter [u/s 2(6A)]
'defaulter' means a person and, every director, or partner of the company, of the firm, and includes
guarantors or successors, who fail to pay the arrears- Default surcharge [u/s 2(6B)]
default surcharge" means the default surcharge levied u/s 34 as below;
if a registered person does not pay the tax due or any part thereof, claims a tax credit, refund or
makes an adjustment which is not admissible to him, or incorrectly applies the rate of zero per cent to
supplies made by him, he shall, in addition to the tax due, he pay default surcharge.- Distributor [u/s 2(7)]
'distributor' means a person appointed by a manufacturer, importer or any other person for a specified
area to purchase goods from him for further supply and includes a person who in addition to being a
distributor is also engaged in supply of goods as a wholesaler or a retailer;- Document [u/s 2(8)]
'document' includes any electronic data, computer programmes, computer tapes, computer disks,
micro-films or any other medium for the storage of such data- Due date [u/s 2(9)]
'due date' in relation to the furnishing of a return u/s 26 means the 15th day of the month following the
end of the tax period, or such other date as the Board may specify and different dates may be
specified for furnishing of different parts or annexures of the return;- E-intermediary [u/s 2(9A)]
"e-intermediary" means a person appointed as e- intermediary u/s 52A for filing of electronic returns
and such other documents as may be prescribed by the Board from time to time, on behalf of a
person registered.- Establishment [u/s 2(10)]
'establishment' means an undertaking, firm or company, whether incorporated or not, an association
of persons or an individual;- Exempt supply [u/s 2(11)]
'exempt supply' means a supply which is exempt from tax u/s 13;
24(A). FBR Settlement Company [u/s 2(11A)]
FBR Refund Settlement Company Limited” means the company with this name as incorporated under the Companies
Act, 2017 (XIX of 2017)], for the purpose of settlement of sales tax and income tax refund claims including payment
by way of issuing refund bonds under section 67A- Firm [u/s 2(11B)] (Same as given in Income Tax Chapter 1)
- Goods [u/s 2(12)]