KARACHI:
The Federal Board of Revenue (FBR) has suspended the facility of zero-rated
sales tax to at least nine textile units, which was granted on the consumption
of electricity.
In
a Sales Tax General Order (STGO) issued on Monday, the FBR withdrew the
facility on the charges of misuse and directed the utility company to charge
normal rates of sales tax at 17 percent from these textile units.
All
the units found in misusing the facility are registered with the Regional Tax
Office (RTO), Faisalabad.
The
FBR directed the RTO Faisalabad to submit a report in respect of action taken
or recovery made for the misuse of the facility by the units.
The
tax authorities have launched monitoring of the zero-rated facility granted
through consumption of electricity and gas to the textile sector.
The
facility has been granted in order to reduce the cost of manufacturing and
enhance exports.
Earlier
on January 19, 2017, the FBR had terminated the facility on electricity
consumption of eight textile units registered with the RTO Karachi.
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