Mr. Amir Is engaged in the business of manufacturing and import of fast moving consumer goods (F MCGS) Recently he is planning to open a retail business across the different cities of Pakistan through various general stores. These general stores will supply the goods from wholesale to general consumers. Mr. Amir is intending to get registered each general store under the Sales Tax Act, 1990. Required: Briefly explain the following in the light of the relevant provisions of the Sales Tax Act, 1990: 1- Whether Mr. Amir will be required to obtain a separate registration for each general store? 2- Whether Mr. Amir will be classified as a retailer or he is required to comply with certain conditions?
Mr. Amir Is engaged in the business of manufacturing and import of fast moving consumer goods (F MCGS) Recently he is planning to open a retail business across the different cities of Pakistan through various general stores. These general stores will supply the goods from wholesale to general consumers. Mr. Amir is intending to get registered each general store under the Sales Tax Act, 1990. Required: Briefly explain the following in the light of the relevant provisions of the Sales Tax Act, 1990: 1- Whether Mr. Amir will be required to obtain a separate registration for each general store? 2- Whether Mr. Amir will be classified as a retailer or he is required to comply with certain conditions?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mr. Amir Is engaged in the business of manufacturing and import of fast moving consumer goods (F MCGS)
Recently he is planning to open a retail business across the different cities of Pakistan through various general stores. These general stores will supply the goods from wholesale to general consumers. Mr. Amir is intending to get registered each general store under the Sales Tax Act, 1990.
Required:
Briefly explain the following in the light of the relevant provisions of the Sales Tax Act, 1990:
1- Whether Mr. Amir will be required to obtain a separate registration for each general store?
2- Whether Mr. Amir will be classified as a retailer or he is required to comply with certain conditions?
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