Published On: Sat, Jan 4th, 2014

Tractors Become Costlier After GST Imposition

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Corporate News (Pakistan News)

Corporate News (Pakistan News)

Manufacturers of tractors have now started including a 17 percent General Sales Tax (GST) on prices of tractors since January 1, 2014.

Previously, a 10pc GST was applicable till December 31, 2013.

Millat Tractors Limited (MTL) at the start of this year notified all the stock exchanges and Securities and Exchange Commission of Pakistan about the inclusion of this increased tax.

According to auto parts vendors many farmers and investors had already lifted tractors in November and December as they had anticipated the 7pc GST hike from January 1,2014. This is exactly why an increase in the sale of tractors had been witnessed during November 2013.

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