2/20/2020 5:11:42 AM cpa club 11 months ago
Certain cases business cannot pay the lump sum amount Zakat at a time, mainly this is due to the bad collection or fund flow to the business. Such cases GAZT has provided the business to pay Zakat in instalments without incurring any additional cost.
Normal case, Zakat must be filed and paid within 120 days from the end of the fiscal year. In case of dispute or re-assessment within 60 days from the date of assessment.
Procedure/Eligibility for paying in instalments
The authority will issue temporary Zakat certificate during the period of instalments and issue a final certificate on full payment of all instalments.
If any failure in the payment of instalment the authority has the right to cancel the instalment scheme and in such cases, the business needs to settle all the pending dues immediate
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