The coalition government-led cabinet has approved the imposition of 25% General Sales Tax (GST) on luxury products in order to meet the demands of the International Monetary Fund (IMF) to fulfil the budget deficit.
According to the details, the Federal Board of Revenue (FBR) will now issue a notification, after which the new GST will be applicable on a range of products and items considered a luxury in Pakistan.
The new General Sales Tax (GST) will be applicable on locally manufactured 1400cc vehicles and imported products, including electronic items, make-up products, pet food, shoes, imported ladies purses, shampoo, soap, lotion, headphones and speakers, iPod, speakers, doors and windows, bath fittings, tiles, sanitary ware, chandeliers, fancy lights.
Read more: Govt Planning to Hike GST on More Luxury Items.
Follow INCPAK on | Facebook | Twitter |Instagram | for updates.
Leave a Reply