KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) on Friday hailed Federal Tax Ombudsman (FTO) decision that directed an automaker to return excessive general sales tax (GST) to its customers.
According to FTO, at least 24 complainants were wrongfully charged 17 percent sales tax for a 998cc vehicle, instead of the applicable 12.5 percent at that time, i.e. after July 2021 when the Finance Act 2021 had become applicable.
FTO not only ordered to return the excess amount collected; but, he also declared the practice as a case of maladministration, Irfan Iqbal Sheikh, president FPCCI, said. After FTO and President of Pakistan’s direction, the automaker agreed to pay back up to 4.5 percent extra general sales tax (GST) taken from its customers.
KARACHI: The State Bank of Pakistan on Wednesday announced extended banking hours for collection of government duties...
ISLAMABAD: Five exploration and production companies have signed a memorandum of understanding to explore and pursue...
KARACHI: Gold prices in the local market increased by Rs2,300/tola on Wednesday following an increase in the...
Beijing/Hong Kong: The last time Alibaba made a radical move to reorganise its business the Chinese tech group set in...
LAHORE: In a fair and vibrant society no one is indispensable but every citizen has the right to move up to the top on...
London: Nearly half of British workers are at risk of burnout as the cost-of-living crisis adds to anxiety, with...
