AIRLINK 75.21 Decreased By ▼ -0.04 (-0.05%)
BOP 5.08 Decreased By ▼ -0.03 (-0.59%)
CNERGY 4.53 Decreased By ▼ -0.07 (-1.52%)
DFML 34.24 Increased By ▲ 1.71 (5.26%)
DGKC 89.50 Decreased By ▼ -0.85 (-0.94%)
FCCL 23.00 Increased By ▲ 0.02 (0.09%)
FFBL 33.18 Decreased By ▼ -0.39 (-1.16%)
FFL 9.94 Decreased By ▼ -0.10 (-1%)
GGL 11.25 Increased By ▲ 0.20 (1.81%)
HBL 115.00 Increased By ▲ 0.10 (0.09%)
HUBC 136.50 Decreased By ▼ -0.84 (-0.61%)
HUMNL 10.35 Increased By ▲ 0.82 (8.6%)
KEL 4.61 Decreased By ▼ -0.05 (-1.07%)
KOSM 4.76 Increased By ▲ 0.06 (1.28%)
MLCF 40.38 Decreased By ▼ -0.16 (-0.39%)
OGDC 140.35 Increased By ▲ 0.60 (0.43%)
PAEL 27.55 Decreased By ▼ -0.10 (-0.36%)
PIAA 25.23 Increased By ▲ 0.83 (3.4%)
PIBTL 6.90 Decreased By ▼ -0.02 (-0.29%)
PPL 124.10 Decreased By ▼ -1.20 (-0.96%)
PRL 27.73 Increased By ▲ 0.18 (0.65%)
PTC 14.04 Decreased By ▼ -0.11 (-0.78%)
SEARL 62.45 Increased By ▲ 0.60 (0.97%)
SNGP 72.50 Decreased By ▼ -0.48 (-0.66%)
SSGC 10.51 Decreased By ▼ -0.08 (-0.76%)
TELE 8.77 Decreased By ▼ -0.01 (-0.11%)
TPLP 11.49 Decreased By ▼ -0.24 (-2.05%)
TRG 66.74 Increased By ▲ 0.14 (0.21%)
UNITY 25.85 Increased By ▲ 0.70 (2.78%)
WTL 1.41 Decreased By ▼ -0.03 (-2.08%)
BR100 7,806 Increased By 3.3 (0.04%)
BR30 25,719 Decreased By -97.1 (-0.38%)
KSE100 74,535 Increased By 3.5 (0%)
KSE30 23,994 Increased By 39.5 (0.16%)

Chairman All Pakistan Textile Processing Mills Association (APTPMA), Muhammad Pervez Lala, has expressed grave concern on the issue of submission of CNIC w.e.f. 01st February 2020 onwards.

Elaborating, APTPMA Chief said that it was committed and assured by the govt that all hurdles and problems faced by the textile industry would be resolved prior to implementation on the condition of submission of CNIC under section 23 of Sales Tax Act 1990.

He said we have witnessed that traders/shopkeepers are still not ready to register themselves with the sales tax regime and this situation has created panic amongst our member units as last date for filing of sales tax return for the month of February is 15th March 2020.

He said that due to non-clarity from the FBR with regard to registration of buyers, production activities of textile processing units is suffering badly and we are constrained to reduce production activities or even closedown our units.

He stressed that how it would be possible to file sales tax return for the month of February 2020 without requisite clarity about registration of unregistered sector in sales tax regime.

It is also clearly understood that without having registered buyers how industry would be able to furnish identity card of a buyer and fact remains that they are legally allowed to remain unregistered by paying 3% extra, this policy is actually creating problems and letting people to continue themselves not registering, what is the fault of industry?

He therefore fervently appealed to the Adviser to PM on Finance & Revenue, Dr Abdul Hafeez Sheikh to look into this matter and advise FBR to give us clarity on the issue of CNIC prior to last date of filing of sales tax return or date of filing of sales tax return for the month of February be extended till the rectification of the problem.

Copyright Business Recorder, 2020

Comments

Comments are closed.