PM Imran To Decide On CNIC Condition On Shopping Worth Rs50,000 Or Above
Mahnoor Sheikh (@mahnoorsheikh03) Published July 28, 2019 | 12:56 PM
Around 3.2 million shopkeepers are not ready to accept the new condition imposed by FBR.
Lahore (UrduPoint / Pakistan Point News – 28th July, 2019) Prime Minister Imran Khan will decide whether the CNIC condition on shopping worth Rs50,000 or above will be implemented or not.
Sources in Federal board of Revenue (FBR) said that the prime minister will approve the new rule.
Sources further said that around 3.2 million shopkeepers are not ready to accept the new condition imposed by FBR.
The condition of Identity Card on shopping of Rs50,000 will be enforced from August 1.
As per details, the condition of National Identity Card on shopping worth more than Rs50,000 will be in effect from August 1.
The Federal Board of Revenue (FBR) has declared that from August 1 onwards, it would be mandatory for shopkeepers to ask for National Identity cards of customers shopping over Rs50,000.
Females would be allowed to show the identity cards of their father or husband.
Also, FBR has declared it illegal to sale cigarettes at a price lower than the retail rate.
The Federal Excise Duty (FDE) on unprepared tobacco has been reduced to Rs10 from Rs300. Moreover, the Fixed Tax of Rs7000 to Rs12000 on brick kilns will also come into effect from August 1.
Under the Finance Act 2019, a notification of amendments in Tax Laws has also been issued. New tax slabs have been issued for local and imported cars. As per FBR, 2.5% excise duty would be charged for a 1000CC car, and 5% for a car between 1001 to 1799 CC.
According to media reports, FBR has explained the amendments in Sales Tax Act under the Finance Bill 2019.
According to the notification, FBR has withdrawn all sales tax general order. The circular says that FBR has withdrawn all Sales Tax General Orders, Sales Tax Special Procedure Rules and Sales Tax Special Procedure Withholding Rules. Rules of defining Cottage Industry have been changed to such industries which are in residential areas, have less than 10 workers and whose annual turnover is less than Rs3 million.
Industries having commercial meters of electricity and gas will not fall under the definition of cottage industries.
Shops of upto 1000 sq ft. will now be included in the list of tier one retailer and will have to pay the sales tax at standard rates. Apart from paying custom duty at imports, sales tax will have to be paid at local selling price.
Related Topics
Recent Stories
PCB, franchise owners discuss window for PSL 2025
CSS 2023 results; check complete details here
European companies show interest in investing in Pakistan’s IT sector
Nominations for three governors'posts; check details here
PML-N to hold meeting today on wheat procurement
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 4 May 2024
Today Gold Rate in Pakistan 04 May 2024
Pakistan marks World Press Freedom Day
High-level Saudi business delegation due on May 5
Stocks heat up as US labour market cools
President approves Tax Laws (Amendment) Bill 2024
Implementation of merit, justice to oppressed segments top priorities: CPO
More Stories From Pakistan
-
Three kids sustain burn injuries as aunt set them ablaze over unknown reasons
9 minutes ago -
Aftab Ahmad Khan Sherpao visits bereaved family in Kohat to express condolence
9 minutes ago -
Four petrol pumps sealed
18 minutes ago -
PSCA expands free Wi-Fi service to 100 points
18 minutes ago -
Minister Aftab Sherpao condoles Mahmoodul Islam's brother death in Kohat
18 minutes ago -
Abbottabad Hajj Committee organizes third Hajj training sessions on May 4
18 minutes ago
-
Two eunuchs shot on Kohat Road in City, in critical condition: Doctors
19 minutes ago -
Notorious commercial human trafficker arrested
19 minutes ago -
Nisar Ali Khan's excellent journalistic services were appreciated by the Social Welfare Society
38 minutes ago -
Mansehra Police arrest suspects responsible for killing of officer within 24 hours
38 minutes ago -
Police complaint cell performance
39 minutes ago -
IKD Hayatabad awarded ISO certification
39 minutes ago