Capital Value Tax (CVT) is a one-time federal tax imposed on the purchase of motor vehicles in Pakistan. Calculated based on the vehicle’s engine capacity or market value, CVT is an essential part of Pakistan’s taxation system for motor vehicles.
Why CVT Matters for Motor Vehicle Owners in Pakistan
- One-Time Payment: CVT is collected once during the vehicle purchase.
- Based on Value or Engine Capacity: The tax amount is determined by the vehicle’s specifications.
- Ensures Compliance: Accurate CVT payment helps avoid penalties and facilitates smooth registration with the Federal Board of Revenue (FBR).
How to Generate Your CVT Challan on the FBR IRIS Portal
Follow these steps to create your CVT challan quickly and securely using FBR’s online e-Payments system:
1. Log in to the IRIS Portal
- Access the Portal: Visit the FBR IRIS Portal.
- Enter Credentials: Log in using your NTN (National Tax Number) and password.
2. Navigate to the e-Payments Section
- Locate e-Payments: Once logged in, find and click on the “e-Payments” tab.
- Select CVT Option: From the list of available tax types, choose “CVT on Motor Vehicle in Pakistan.”
3. Enter Vehicle Details
Provide all necessary information about your vehicle, including:
- Vehicle Type: Car, motorcycle, etc.
- Engine/Battery Capacity: For both conventional and electric vehicles.
- Make and Model
- Engine Number
- Chassis Number
- Registration Number: (if applicable)
4. Provide Purchaser and Seller Information
Fill in the required details for both parties:
- Names
- CNIC Numbers
- Addresses
5. Calculate the Tax Amount
- Automatic Calculation: The system will compute the CVT based on the vehicle’s specifications and the applicable tax rates.
- Review the Amount: Ensure the calculated tax amount is correct before proceeding.
6. Review, Confirm, and Submit
- Double-Check Details: Verify all the information entered for accuracy.
- Submit: Click on the “Submit” button once you are satisfied with the details.
7. Generate and Save Your Challan
- Challan Generation: After submission, a challan with a unique payment ID will be created.
- Challan Details: The generated challan includes tax amount, due date, and payment instructions.
- Save Documents: Retain a copy of the challan and your payment receipt for future reference.
How to Make the CVT Payment
CVT payments can be made through multiple channels:
- Online Banking: Pay directly from your internet banking account.
- Over-the-Counter: Visit a designated bank branch with your challan.
- Mobile Wallets: Use services like Easy Paisa or Jazz Cash for convenient payment.
Important Tips for a Smooth CVT Payment Process
- Accurate Information: Ensure all entered data is correct to avoid payment issues.
- Document Retention: Keep copies of your challan and payment receipts.
- Timely Payment: Complete your payment within the deadline to avoid penalties.
By following these structured steps, motor vehicle owners in Pakistan can easily generate a CVT challan via the FBR IRIS portal, ensuring compliance with tax regulations while benefiting from a streamlined online payment process.
