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Tag Archives: General Sales Tax (GST)

Plugging Rs70b gap: GST on POL raised by 5pc to 22pc; govt to collect Rs45b

ISLAMABAD: In a bid to offset the revenue shortfall, the General Sales Tax (GST) on petroleum products has been increased General Sales Tax (GST) by 5 percent to 22 percent from the existing 17 percent. This move will enable the government to collect additional Rs19 billion due to increase in GST and Rs10 billion on account of the existing petroleum ... Read More »

Tractors sales up 45pc: Autos sales soar by 23% to 11.789 units in Nov

KARACHI: Driven by the sale of Toyota Corolla’s new model, the local car assembling industry witnessed 23 percent sales growth in November as sales locally-assembled cars, light commercial vehicles (LCVs), vans and jeeps went up by 23 percent to 11,789 units against 9,588 units in same month last year. Whereas the sales of tractors saw a robust growth after reduction ... Read More »

FBR collects Rs900b against Rs973b target in 5 months of 2014-15 , faces Rs73b shortfall

ISLAMABAD: The Federal Board of Revenue faced a shortfall of Rs73 billion in revenue collection during the first five months (July-Nov) of this fiscal year 2014-15. The collection stood at Rs900bn against the target of Rs973bn. However, it recorded a marginal growth of 14 per cent over the last year’s collection of Rs789bn. The growth in revenue collection was the ... Read More »

FBR to settle down low growth in provincial tax revenues

ISLAMABAD: The Federal Board of Revenue (FBR) has expectations that low growth in provincial tax revenues will settle down after witnessing an initial spurt following the devolution of sales tax collection. “The FBR was concerned over the low growth in provincial tax collection after rising substantially in the previous year, the pace of tax collection weakened in third quarter of ... Read More »

Slash in ST to boost tractors’ sales

KARACHI: With the reduction in General Sales Tax (GST) back to 10% in budget 2015, tractor industry sales are expected to rebound over the next year. AKD Securities, a brokerage house, predicted that the sales of Millat tractors in fiscal year 2015 might touch 32,000 units while the Al-Ghazi tractors sales may reach 25,000 in 2015. The government had reduced ... Read More »