Imported cotton: FBR to notify waiver of GST and duty

In line with the ECC decision, FBR will issue an SRO on the withdrawal of customs duty and sales tax on cotton imports which will be effective from Jan. 8, 2018. By Jan. 1, 2018, more than 95% of the cotton has been lifted from the farmers therefore it is proposed that similar to last year decision, customs duty and sales tax on imported cotton may be withdrawn to encourage value addition, reduce the cost of doing business and fill the gap between production and consumption.