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5pc ST on oil-cake: FBR seeks substitute proposals from PCGA

5pc ST on oil-cake: FBR seeks substitute proposals from PCGA

MULTAN: Pakistan Cotton Ginners Association (PCGA) Vice Chairman Asim Saeed Sheikh claimed that the Federal Board of Revenue (FBR) had sought substitute proposals in case of non-imposition of five percent sales tax on oil-cake (Khal).
According to a PCGA release, a delegation of the association led by its VC Asim Saeed Shiekh met Chief Commissioner RTO In-Land Revenue Mohammad Jameel Owaisi. Members of the delegation apprised the chief commissioner that their combined ginning and oil mills (units) were already registered, adding that the ginners were playing an effective role in strengthening country’s economy. They informed the chief commissioner that the PCGA was contributing Rs40 billion in taxes to the national kitty. They pointed out that they had no objection to paying tax but they wanted a well-define procedure in this regard.
The delegation informed that the oil-cake was only option left for animals in flooded areas as floodwater had devastated fodder.
They said that imposition of five percent sales tax on oil-cake would add to its price, making it beyond the reach of farmers. At which the RTO chief commissioner informed the delegation that the FBR had sought alternative proposals in this regard.