Lahore Chamber of Commerce and Industry (LCCI) Standing Committee on Customs, Import and Tariff, Convener Irfan Qaiser has demanded immediate restoration of old carry forward system in Sales Tax for commercial importers and retailers.
In a statement issued here on Tuesday, Qaiser urged the Prime Minister Shaukat Aziz and Chairman Central Board of Revenue (CBR) that commercial importers and retailers were facing numerous hardships due to withdrawal of facility of carry forward by the Sales Tax Department. He said now it was not possible for any importer to utilise bulk import in a month.
Irfan, who also heads an Alternative Dispute Resolution (ADR) Committee for Sales Tax suggested that amendment made in Section 10 of the Sales Tax Act and carry forward system should be restored so that importers and manufacturers could continue their business with full peace of mind and attention, the statement added.
He also urged the government to withdraw 0.1 per cent tax on withdrawal of cash through cheques and other modes on amount of Rs 25,000 and above, as it was promoting use of cash and creating numerous problems for the business community.-PR