WhatsApp Logo Subscribe
For News Alert

News

Millat Tractor temporarily shuts down its production plant over tax refund issues

By News Desk

August 22, 2024 06:39 PM


Twitter Share Facebook Share WhatsApp Share

Amid tax refund issues, Millat Tractor Limited has temporarily shut down its production plant in Pakistan, reported 24NewsHD TV channel.

Millat Tractor Limited in a letter to Pakistan Stock Exchange said that due to non-receipt of tax refund money, the company was facing continuous losses. The company further told PSC that government has imposed 10 percent GST on manufacture of tractors. While company was paying 18 percent GST on parts used in tractors.

The company said that government was not refunding the tax adjustment after submission of additional taxes to the government.

 

Reporter: Ashraf Khan 


News Desk


Most Read

  1. Dr Zakir Naik explains concept of 'free will' and 'predestination' to Yashma Gill Dr Zakir Naik explains concept of 'free will' and 'predestination' to Yashma Gill
  2. Two Chinese nationals among three killed in Karachi 'suicide bombing' Two Chinese nationals among three killed in Karachi 'suicide bombing'
  3. Strong winds, rain lash most parts of Punjab, KP Strong winds, rain lash most parts of Punjab, KP
  4. Routine traffic on Lahore, Rawalpindi roads as almost all blocked routes reopened Routine traffic on Lahore, Rawalpindi roads as almost all blocked routes reopened
  5. Abdullah, Shan hit tons in England Test Abdullah, Shan hit tons in England Test
  6. One dead, eight injured in explosion near Karachi airport One dead, eight injured in explosion near Karachi airport