CNIC copy not required on purchases of upto Rs100,000

KARACHI: Admitting the demands of traders, the government has increased the minimum threshold of supplies by retailers for obtaining CNIC of the buyers from Rs 50,000 to 100,000.

Accordingly, the requirement of providing copy of CNIC on purchases of upto Rs100,000 is withdrawn.

In wake of COVID-19, the Federal Government granted exemption to health related items and equipment through SRO 237(I)/2020 dated 20-3-2020 which is going to expire on 19-6-2020. In the present circumstances vis-à-vis COVID-19, the said period is being extended for another three months starting from the 20th June 2020.

Sales tax exemption is also allowed on import of dietetic foods intended for special medical purposes for the children suffering from Inherited Metabolic Syndrome;

In order to encourage documentation, it has been decided to provide relief to organized retail sector which is integrated online with FBR through Point of Sale system. Their existing sales tax rate is proposed to be reduced from 14% to 12%.

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