The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to the long-pending issue of bringing some of the textile segments under the ambit of the General Sales Tax (GST).
The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to #
The issue of levying GST on services, sizing and powerlooms sectors of textile chain is under discussion for the past two years in Pakistan.
The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to #
Presenting his case before the Standing Committee, Mr. Haleem Aslam Malik, Chairman of Textile Sizing Association of Pakistan, said initially the FBR issued SRO 238, which imposed tax on local textile sales, six percent GST on spinning sector, and 4 percent GST on processing sector.
The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to #
Subsequently, however, powerlooms, sizing, hosiery and towel sectors were exempted from GST, he said.
The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to #
Through its SROs 1181 and 1125, the scope of GST was extended to powerlooms and sizing upon sales to unregistered buyers. The FBR included sizing and powerlooms segments in textile processing sector and increased the rate of GST from 4 percent to 5 percent.
The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to #
Several rounds of talks have been held with tax authorities during the last two years, but no final decision has been arrived, said Mr. Malik.
The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to #
He stressed that sizing is a cottage industry and majority of players are unregistered, and imposition of GST will result in a major crisis for these firms.
The Chairman of Federal Board of Revenue (FBR) has been asked by the National Assembly Standing Committee on Textile Industry to find a solution to #
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