ISLAMABAD: Federal Board of Revenue (FBR) has decreased General Sales Tax (GST) on the import of pigment, it is learnt here.
Official sources told Customs Today that the Board has taken the decision and decreased the GST from 17 % to 5 % on the import of pigment.
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Pigment is a material that change the color of reflected or transmitted light as the result of wavelength-selective absorption. Pigment are used for coloring paint, ink, plastic, fabric, cosmetics, food and other material in the textile and leader industry, sources added.
Sources further said that the basic aim behind the announcement of huge cut on the GST on import of pigment is to facilitate the textile and leader industry.
It is important to mention here that FBR has earlier increased the GST from 6% to 9% on the import of textile & leather products, medical apparatus and sports goods which cause a huge increase in the price of these products.
Meanwhile the HS code 3204.1700 of pigment has been substituted with HS code 3204.1710 and 3204.1720 in the budget 2018-19, sources added.
