FBR warns ginners to pay taxes of Rs 1b till Mar 30
Spokesman of PCGA says notices would be served to them in default of payment of tax.
Federal Board of Revenue (FBR) has warned the ginners to pay taxes of one billion rupees till 30th of this month.
Spokesman of Pakistan Cotton Ginners Association (PCGA) said notices would be served to them in default of payment of tax at the rate of 6 rupees per maund on "Binola" according to the agreement reached between the PCGA and ministry of finance.
Pakistan Cotton Ginners Association has asked its members to pay tax before stipulated date to save themselves from any trouble otherwise they would have to pay five percent General Sales tax on oil-cake and two percent on Binola oil.
Chairman of PCGA Hafeez Anwar said that Federal Board of Revenue and Pakistan Cotton Ginners Association have reached an agreement to pay six rupees per maund tax on cotton seed instead of five percent GST on oil-cake and two percent on cottonseed oil.