{"id":64405,"date":"2020-04-22T09:47:00","date_gmt":"2020-04-22T04:47:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64405"},"modified":"2020-04-21T18:51:26","modified_gmt":"2020-04-21T13:51:26","slug":"govt-introduce-gst-collection-system-bills","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-introduce-gst-collection-system-bills.html","title":{"rendered":"Govt to introduce new GST collection system for electricity bills"},"content":{"rendered":"\n<p>Islamabad: The government is looking to introduce a tax collection system wherein the general sales tax (GST) will be charged on the actual amount of consumer dues collected instead of billed by the power distribution companies, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/single-tax-return-facility-for-provincial-gst-on-services.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Provinces to launch \u2018single tax return\u2019 facility for generating provincial GST on services (opens in a new tab)\">Provinces to launch \u2018single tax return\u2019 facility for generating provincial GST on services<\/a><\/p>\n\n\n\n<p>As per going practice, the federal executive provides subsidy\nto those consumers who utilise less than or up to 300 units on a monthly basis.\nTo this effect, the Federal Board of Revenue (FBR) charges sales tax from the\ndistribution companies against the subsidised amount.<\/p>\n\n\n\n<p>However, the Power Division has recommended that the sales tax should be charged only on the amount received from the consumers. This will mean that no GST will be collected on the subsidy provided by the government or the amount not collected by the power distribution companies on account of theft and technical losses.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-shift-from-gst-to-vat-collection-model.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"FBR to shift from GST to VAT collection model (opens in a new tab)\">FBR to shift from GST to VAT collection model<\/a><\/p>\n\n\n\n<p>The FBR charges tax on the full amount of bill, while the\nrecovery is actually around 90%. This means that FBR has to refund the\nremaining 10% to the companies which have accumulated up to PKR 330 billion.\nNow the authorities plan on changing this practice through relevant amendments,\nwhich are expected to be introduced in the upcoming finance bill. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government is looking to introduce a tax collection system wherein the general sales tax (GST) will be charged on the actual amount of consumer dues collected instead of billed by the power distribution companies, a news source reported. Read: Provinces to launch \u2018single tax return\u2019 facility for generating provincial GST on services As per going practice, the federal executive provides subsidy to those consumers who utilise less than or up to 300 units on a monthly basis. To this effect, the Federal Board of Revenue (FBR) charges sales tax from the distribution companies against the subsidised amount. However, the Power Division has recommended that the sales tax should be charged only on the amount received from the consumers. This will mean that no GST will be collected on the subsidy provided by the government or the amount not collected by the power distribution companies on account of theft and technical losses. Read: FBR to shift from GST to VAT collection model The FBR charges tax on the full amount of bill, while the recovery is actually around 90%. This means that FBR has to refund the remaining 10% to the companies which have accumulated up to PKR 330&hellip;<\/p>\n","protected":false},"author":57,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[26899],"persona":[],"class_list":{"0":"post-64405","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-govt-to-introduce-new-gst-collection-system-for-electricity-bills","9":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt to introduce new GST collection system for bills - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The government is looking to introduce a tax collection system wherein the general sales tax (GST) will be charged on the actual amount of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-introduce-gst-collection-system-bills.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to introduce new GST collection system for bills - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The government is looking to introduce a tax collection system wherein the general sales tax (GST) will be charged on the actual amount of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-introduce-gst-collection-system-bills.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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