HOW RETURNS AND EXCHANGES ARE
HANLED IN POS SYSTEM?
The software employed by the retailer should be able to handle returns and exchanges. Such software makes the necessary adjustment to sales revenue and the same is also reflected in sales reported to FBR. In case such returns and exchanges are not properly reflected, the retailer can make use of debit / credit notes and record the same in Annex-I of the monthly sales tax return.
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