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FBR mandates sales tax invoices for advance payments
ISLAMABAD: The Federal Board of Revenue (FBR) has prescribed a procedure for sales tax-registered taxpayers for the issuance of advance receipt invoices to account for advance payments received against supplies. The FBR has issued SRO 2063(I)/2026 to amend the Sales Tax Rules, 2006. According to the new procedure, where a registered person, or a class of persons to whom section 23 of the Sales Tax Act, 1990 applies, receives an advance payment, whether in full or in part or through one or more instalments, against a supply, the registered person shall, at the time of receipt of each such payme...
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