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June 12, 2021

Sweetener may get dearer by Rs3-4 per kg

ISLAMABAD: Federal Board of Revenue (FBR) has proposed changes in collection of General Sales Tax (GST) on sugar and now the manufacturers would collect GST on retail price. With this step, the FBR will get additional tax collection of Rs7 billion in the budget.

The FBR officials, however, said that there should be no increase in prices at the retail stage, but the prices of sweetener would be up by Rs3 to 4 per kg in the market for consumers. Now the sugar will be treated as part of a Third Schedule item, meaning that the manufacturer would collect tax on retail price.