Home / Knowledge / News / Textiles / NA body asks FBR to exempt powerlooms from GST
NA body asks FBR to exempt powerlooms from GST
01
Aug '12
The National Assembly Standing Committee on Textile Industry has directed the Federal Board of Revenue (FBR), the tax authority of Pakistan, to exempt powerlooms, hosiery and sizing industries that are earning below Pk Rs. 5 million per annum from General Sales Tax (GST).
 
The directions were given during a meeting of the National Assembly Standing Committee on Textile Industry held under the leadership of Hajji Muhammad Akram to consider whether powerlooms, sizing, hosiery and towel industries should be subjected to GST imposition vide SRO 1125.
 
The Standing Committee suggested that the upper cap on earnings of these sectors should be removed to the advantage of small entrepreneurs and FBR should try to derive a long-term solution for small entrepreneurs in the textile sector.
 
The Committee asked FBR to levy a one-time tax on small entrepreneurs in the textile sector, as it is observed that presently FBR collects tax from these industries three times under different headings.
 
According to the Committee, the small entrepreneurs are already enduring heavy costs to develop their infrastructure, against which they are not earning much, and hence the board should not levy any additional burden on these small entrepreneurs.
 
Speaking at the meeting, Mr. Akram said that FBR’s stringent policies provoke small entrepreneurs to evade paying taxes.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search