WHAT IS THE DISADVANTAGE OR PENALTY FOR
TIER-1 RETAILER WHO FAIL TO INTEGRATE THEIR POSs?
Under section 33 of the Sales Tax Act, 1990, as amended by Tax Laws (Second Amendment) Ordinance, 2019, specific penalty has been provided for retailers failing to integrate. Under the newly added clause 25 in the Table in section 33, a tier-1 retailer failing to integrate shall be liable to penalty of Rs. 1 million, and in the event of continuing failure may face sealing of his premises and embargo on his sales.
Further, disadvantage of failure to integrate, as provided in sub-section (6) of section 8B, is that the adjustable input tax of the retailer shall be reduced by 15%
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