Sales tax reduced to 4 percent on textile products, excise duty exempted

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Sales tax reduced to 4 percent on textile products, excise duty exempted

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The sales tax on textile products has been reduced to 4 percent including excise duty exemption.

26 March,2011 10:18 pm

After the successful talks between APTMA and FBR, the sales tax on textile sector was reduced up to 13 percent, whereas, 6 percent tax would be levied on the sale of yarn.These taxes would be imposed on non-registered firms while the zero rating for registered industries and exporters would remain as usual.With the imposition of flood tax by the government, 17 percent tax was also imposed on the domestic sale of zero rated sector on which the textile community started protesting.