GST should be reduced to 14%: KCCI‏‏‏

President KCCI Agha Shahab Ahmed Khan has stressed that the rate of GST should be reduced by 3% to 14% from current 17% which will have a very positive impact on business sentiment and it would trigger demand in the 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), he said that it is unjust to force suppliers to provide CNIC of unregistered persons and pay 3% further tax at the same time. After getting unchecked access to the database of citizens, FBR should be made responsible to broaden the tax base and register all entities in the sales tax regime so that suppliers are not forced to sell to unregistered persons. President KCCI said that the phenomenal increase in the rate of FED from 13% to 25% on caffeinated energy drinks is unjust and discriminatory.

22/6/2020