Makers for GST cut on farm tools
May 22nd, 2012 | Technology Times | No Comments
STAFF REPORT SIALKOT: The manufacturers of agriculture implements and machinery have appealed to the government to withdraw the 16 per cent GST on agriculture tools and machinery for the promotion of the industry and growth of agriculture sector in the country.
“Due to implantation of 16 per cent GST on agriculture machinery the manufacturers of agri tools and farmers community are confronting with multifarious problems,” said Iqbal Mughal, Executive Member of Pakistan Agricultural Machinery Implements Manufacturers Association (PAMIMA) and executive member of Engineering Development Board in an interview.
The government has already reduced GST from 16 per cent to five per cent on tractors but the imposition of 16 per cent GST is still levied on agricultural machinery and inputs, he said.
Iqbal disclosed that sale of agri tools and machinery has been decreased to 60 per cent due to imposition of GST, adding that farmers prefer to use traditional modes of agriculture because they are unable to purchase new machinery for farming.
He appealed to the government to exempt agri tools and machinery from 16 per cent GST for the smooth growth of the industry and to facilitate the manufacturers.
Short Link: https://www.technologytimes.pk/?p=9238