NTC reviews progress on GST harmonization

NTC reviews progress on GST harmonization

ISLAMABAD, Jun 09 (APP): The National Tax Council (NTC) here on Thursday reviewed the progress on the harmonization of General Sales Tax (GST) across the country.

Federal Minister for Finance and Revenue, Miftah Ismail while chairing the NTC meeting said harmonization of GST was imperative to ensure ease of doing business, according to press statement issued by finance ministry.

The minister directed all the stakeholders to work out a mechanism for achieving the very purpose of GST harmonization.

The meeting was attended by Finance Minister Khyber Pakhtunkhawa, Taimur Saleem Khan Jhagra, Secretary Finance, Chairman Federal Board of Revenue (FBR), Provincial Finance Secretaries and Chairpersons of Provincial Revenue Authorities attended the meeting.

On the occasion Chairman FBR shared in the meeting that single portal has been developed and activated.

The provinces should facilitate taxpayers for filing single return, he added.During the meeting, it was decided that collection of GST on restaurants/hotels and on construction services may be given to provinces. However, the taxation on toll manufacturing and sales tax on goods used in construction shall be subject of FBR.

It was also decided that existing mechanism of taxation on transportation of Petroleum products shall remain as usual.

All stakeholders agreed to proceed ahead in the spirit of greater national interest and harmony under the umbrella of National Tax Council (NTC).

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