Pakistan Industrial and Traders Association Front Chairman Irfan Iqbal Sheikh has voiced his concern over the issuance of notices under SRO 608, claiming that the notices are harassing traders. In his speech to a delegation of thee garments and superstores' representatives at the Lahore Chamber of Commerce and Industry (LCCI), he said the government had assured him of resolving the controversial SRO but no tangible step had been taken so far.
He urged the government to take the United Retailers Association into confidence and redress the traders' grievances about tax anomalies under the SRO. "The SRO 608 is silent regarding the stock adjustment of the previous year while the 17 percent General Sales Tax (GST) rate is too high as small traders cannot be able to survive. Out of 855,000 registered taxpayers, only 322,000 file tax returns. The tax net needs to be broadened and at least 350,000 new tax payers should have been added into tax net... It will help the government to achieve the revenue target."
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