All Show Cause notices issued due to Crest technical problems should be withdrawn immediately: Saquib Fayyaz Magoon
Karachi, October 10, 2013 (PPI-OT): “Saquib Fayyaz Magoon Ex-chairman of Indentor Association of Pakistan stated that “Indentor Association admire FBR for giving provisions through newly Issued 4 SRO’s 895-898 including Exemptions from with holding tax for Commercial Importers, but still very big lacuna is there for Textile Chemical Traders , as they can’t registered as a Textile and leather chemical Traders or Dealers at the time of sales tax registration, So Automated Software CREST count them outside from 5 Zero Rated sector and issuing Show cause notices against them .
Saquib Fayyaz Magoon said that Chemical and dyestuffs Items listed in Table I of SRO 1125 can be sale @2% sales tax , but due to above Lacuna if any Commercial Importer or manufacturer of These items sales to Textile and Leather chemical traders then CREST is charging @17% S.T which is injustice with them . He gives solution that all items listed in Table I SRO of 1125 should be Charged @2% without any condition as most of the items are consuming 90% in 5 zero rated sectors.
Saquib Fayyaz Magoon also stated that All Show Cause notices issued due to Crest technical problems should be withdrawn immediately.
For more information, contact:
Indentor Association of Pakistan
Head Office 8/8, Rimpa Plaza, M. A. Jinnah Road, Karachi
Category: General Business News