Home / Knowledge / News / Textiles / Sales tax reduced for Pak textile, leather sectors

Sales tax reduced for Pak textile, leather sectors

20
Nov '18
Sales tax reduced for Pak textile, leather sectors
Pakistan’s Federal Board of Revenue (FBR) recently issued procedure for the textile and leather industries to avail reduced sales tax rate of 6 per cent by integrating their supplies with its online system. The facility would be available subject to certain terms and conditions and in case of failure, the FBR would impose a sales tax rate of 9 per cent.

FBR would notify integrated units and their outlets from where the units intended to sell the goods and avail reduced rate of sales tax.

This integrated system provides full information on sales from each point of sales (POS) of a unit by generating online sales invoices and buyers details to verify in case of refunds and input or output adjustments, according to Pakistani media reports.

To avoid misuse, FBR has incorporated a strong audit mechanism to check sales invoices.

An integrated supplier, who is found to have tampered with the system or made sales otherwise than the prescribed devices or who contravenes any of the provisions, will no more be eligible for the reduced rate. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 25th Nov 2020

Bangladesh reduces REX fee for RMG export to EU

Bangladesh's Export Promotion Bureau recently reduced the service...

Pic: Shutterstock

Textiles | On 25th Nov 2020

EACHAM-LOBA MoU to improve logistics between Cambodia, PRC

Cambodia's Logistics Business Association (LOBA) and the European...

Pic: Shutterstock

Apparel/Garments | On 25th Nov 2020

JETRO, Bangladesh's CCCI sign MoU to foster trade ties

The Japan External Trade Organisation (JETRO) and Chittagong Chamber...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

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

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


November 2020

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


Advanced Search