GST be reduced to 4pc: KCCI

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Staff Reporter

Karachi

President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has stressed that the rate of GST should be reduced by 3 percent to 14 percent from current 17% which will have a very positive impact on business sentiment and it would trigger demand in domestic market, besides providing much needed relief to trade, industry and consumers.
Highlighting Budget Anomalies identified by KCCI which have been submitted to the Anomalies Committee (Business & Technical), President KCCI advised to withdraw 3 percent Further Tax on Sales to Unregistered persons to facilitate transactions.
Agha Shahab said that It is unjust to force suppliers to provide CNIC of unregistered person and pay 3% Further Tax at the same time. After getting unchecked access to the data base of citizens, Federal Board of Revenue (FBR) should be made responsible to broaden the tax base and register all entities in Sales Tax regime so that suppliers are not forced to sell to Unregistered persons.