Islamabad: According to a recent news report, the Federal Board of Revenue (FBR) ordered producers and sellers of important consumer brands and commodities like as cement, tobacco, sugar, fertilizer, and drinks to register their brands in order to continue selling their goods on the market.
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Before selling their products in the market, the board has made it necessary for all new and current firms in the designated industries to register. Under Section 40E of the Sales Tax Act of 1990, as modified by the Finance Act of 2021, the supreme tax body provided a method for trademark registration. The FBR issued a procedural letter in this regard on August 3rd, Sales Tax General Order (STGO) 7/2021. All businesses mentioned in rule 150ZF of the 2006 sales tax laws must register their brands.
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Furthermore, brands associated with the aforementioned industries are required to register with the project director (TTS) by submitting an application containing information such as the manufacturer’s name, trade name, STRN, NTN, date and place of incorporation, name of directors, precise business location of the manufacturing unit, and details of the product.
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