Wednesday , October 24 2018
Breaking News
Home / Islamabad / Leather & textile sectors not connected with FBR IT system will face 3pc extra ST
Leather & textile sectors not connected with FBR IT system will face 3pc extra ST

Leather & textile sectors not connected with FBR IT system will face 3pc extra ST

ISLAMABAD: Federal Board of Revenue (FBR) clarified that those leather and textile sectors will face 3pc extra sales tax which are not connected with FBR’s Information and Technology System and will have to pay 9pc of sales tax on local supply of its products.

Sources told Customs Today that FBR has issued notification in this regard in which it clarified that such leather and textile sectors which are connected to FBR’s Information and Technology system will have to pay only 6pc of sales tax on local supply/ sales of its product. However, if leather and textile sectors are not connected to FBR’s IT system, they have to pay 9pc of sales tax on local supply of its products.

Sources said that those units of leather and textile sectors which want to take advantage of such concession of 3pc on sales tax of local supply of products must have to connect its units with FBR’s IT system.

The board has notified date of registration till 15th of August 2018 to connect with IT system. Sources said that the basic aim of this linkage of IT system is to monitor the local supply of leather and textile sectors.