Machine Industries — fake invoices

Steel industry demands end to fake invoices, protection of legal businesses ISLAMABAD: The representatives from the steel industry have urged Special Assistant to Prime Minister on Revenue, Dr Waqar Masood, and the Federal Board of Revenue (FBR) to curb fake invoices in the steel business as this was hurting and discouraging the documented segment of the industry. In separate letters to the prime minister’s special assistant and FBR, Pakistan Association of Large Steel Producers (PALSP) has complained that the ongoing practice of taking claims/ inputs through fake and flying sales tax invoices was resulting in loss of billions of rupees...