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Oil, ghee industries seek withdrawal of taxes on local sale, purchase

Oil, ghee industries seek withdrawal of taxes on local sale, purchase

MULTAN: The oil and ghee industry has showed concerns over tax notices issued on local sale and purchase. Owners of banaspati ghee and oil mills industry have demanded Federal board of revenue to withdraw tax notices issued recently by the Directorate General of Intelligence and Investigations-Customs regarding sale and purchase at country level.

Oil Mills and banaspati Association have demanded that the government should rather provide relief to the edible oil industry instead of the new taxes imposed on the oil industry which will affect their manufacturing capacity.

Customs Intelligence has directed all mills owners of oils and banaspati to submit the details of sales and purchase within country.

The millers have said that Federal Board of Revenue may be trying to reform tax policy but it is unfair to charge taxes over items which are already taxed.

They said that Oil mills and banaspati mills pay taxes in three phases including purchase of raw materials, when manufacturing process begins and after completion of furnished goods.

The oil and ghee industry is seeking direct intervention of Federal Board of Revenue Chairman Tariq Bajwa to withdraw notices issued for recovery of sales tax on local sales and purchase of manufactured products.