ISLAMABAD: Federal Board of Revenue (FBR) has increase General Sales Tax from 10.5% to 13% on the steel composite units, with effect from July 1, 2018.
Official sources told Customs Today that FBR has increased the GST from 10.5% to 13% on steel miters, steel re-rollers and steel composite units while the notification has been issued in this regard which will be effective from July 1.
Meanwhile, the Federal Board of Revenue also increased the GST from 6% to 9% on the import of leather and artificial leather made goods including suitcases, briefcases, travelling bags, hand bags, shopping bags, wallet, purse, sports bags, school bags, laptop bags, jackets and leather belts and shoes.
Sources added that the board has amended SRO 2011(i) and SRO 1125 in this regard and issued notification.
It is important to highlight here that with the increase in the GST on the above-mentioned imported goods the market price will face high rate as these goods are using by the consumers on daily routines.
