close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
June 14, 2019

FMCG importers deplore CNIC condition

Business

June 14, 2019

LAHORE: The businesses of commercial importers as well as distributors will suffer if the government binds computerised national identity card (CNIC) number of every unregistered buyer to the sale of goods, industry officials said on Thursday.

The proposal that is a part of the finance bill 2019-20 also states that in case of a failure the unregistered buyer will not be eligible to claim input tax adjustment against any such sale.

“This condition is impracticable and will severely hamper the government efforts of enhancing tax collection,” Muhammad Ejaz Tanveer, vice chairman Pakistan FMCG Importers Association (PFIA) said in a statement.

Tanveer said it was regrettable to note that the government did nothing to withdraw the controversial SRO 237 in the budget. “It would only discourage the legal imports and encourage smuggling and under-invoicing,” the PFIA official said.

The statement also quoted Ali Tariq Mattoo, secretary general PFIA, as saying that the CNIC number condition had already failed in the past owing to its impracticability.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus