RJSC moves to realise dues amid NBR warning
VAT on fees, charges of 204,420 services remain outstanding for FY2014-18
Ismail Hossain | Friday, 23 April 2021
The Office of the Registrar of Joint Stock Companies and Firms (RJSC) has taken a move to realise outstanding VAT for previous four fiscal years (FY2014-18) from the companies and farms.
Despite having legal provision, the authority did not collect 15 per cent value added tax (VAT) on its services fees and charges due to absence of necessary permission from the Ministry of Commerce (MoC), according to a source at the RJSC.
According to an RJSC circular, the services are subject to charge VAT as per the VAT Act 1991 and VAT rules 1991.
The authority has not realised the VAT during the period from FY2014-15 to FY2017-18.So.The companies and firms must pay the outstanding VAT now against the fees and charges paid to the RJSC during the period, said the circular.
The RJSC has published on its website the names of 204,420 services taken by different companies and firms in the four fiscal years. However, it did not set any deadline for paying the dues.
The companies and firms have been asked to pay the dues with certain bank accounts of Eastern Bank, Brac Bank and One Bank.
In 2014, the RJSC had also sent a letter to the MoC seeking permission to collect the VAT, but the ministry took around three years to take a decision in this regard.
However, the RJSC has started collecting the VAT from FY2018-19.
The source also said that the National Board of Revenue (NBR) has sent a number of letters to the RJSC about collecting the dues. "But the RJSC did not pay attention to the issue," he said.
Recently, the NBR warned the RJSC to go to court if it does not collect the dues.
Additional registrar of the RJSC Santosh Kumar Pandit said that this is the government money and the service receivers must pay the money as per law of the land.
"The companies and firms must have to pay the dues," he said, adding that if they do not pay the VAT, they will not receive services from the RJSC in future.
The RJSC takes fees and charges mainly for name clearance, registration, returns filing, issuance of certified copies, winding up, striking off to firms, companies and societies.