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LAHORE:Al-Ghazi Tractors Limited (AGTL) has requested the Federal Board of Revenue s (FBR) anomaly commi
jordan 1 ttee to end general sales tax (GST) at the import stage, which is resulting in liquidity challenges and considerable financial cost for the tractor industry.In a letter sent to the committee, the company pointed out that due to the liquidity crunch faced by the government, sales tax refunds of the industry were not being released timely ie within three days of the claim sanctioned. Instead, the refunds were being disbursed in tranches wit
nike air max95 h delays spanning several months, the letter said. As of today, more than Rs5 billion of the tractor industry is stuck with the FBR, it stated. The company is currently f
adidas campus white acing liquidity issues and a huge financial cost due to Rs2.3 billion worth of non-refunded sales tax, said AGTL CEO Shahid Hussain.Crisis-hit tractor industry shifts focus to exportsCurrently, the output sales tax is charged on the sale of tractors at 5% against 17% input tax pai