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Ministry of industries proposes GST exemption on tractors – Alfalah Securities Limited

Karachi: Ministry of Industries and production has proposed withdrawal of 16% General Sales Tax (GST) on tractor to the Economic Coordination Committee (ECC) of the cabinet.

According to Alfalah Securities Limited, sales tax zero-rating on tractors proposed to be restored or deemed price to be fixed for sales tax purposes or levy of sales tax may be phased in 3-4 years rising gradually. GST exemption was taken back in March, 2011 consequently the prices of tractors were increase by PKR 90,000 to PKR 200,000 and the tractor offtakes dropped significantly since then.

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