{"id":66265,"date":"2020-06-07T10:06:00","date_gmt":"2020-06-07T05:06:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66265"},"modified":"2020-06-05T16:08:05","modified_gmt":"2020-06-05T11:08:05","slug":"budget-2020-21-punjab-to-relax-gst-on-services","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/budget-2020-21-punjab-to-relax-gst-on-services.html","title":{"rendered":"Budget 2020-21: Punjab to relax GST on services"},"content":{"rendered":"\n

Lahore: The government of Punjab has announced its decision to offer relaxation in the General Sales Tax (GST) rate on services<\/a> in the upcoming Budget 2020-21 \u2013 in addition to prioritising property tax rate reductions and an extension in entertainment tax submission timeframes \u2013 according to news sources. These relaxations are aimed at facilitating the people amid the ongoing COVID-19 pandemic and its debilitating impact on the national economy.<\/p>\n\n\n\n

Read:<\/strong> All Pakistan Chambers President\u2019s Conference requests GST reduction to 5%<\/a><\/p>\n\n\n\n

The decision was taken in the third and final Resources Mobilisation Committee meeting \u2013 presided over by Punjab Minister for Finance Hashim Jawan Bakhat. The minister asked the excise and taxation department if the public was made aware of the reduction in taxes and duties. He directed the concerned officials to diligently spread awareness about the newly-reduced tax rates on vehicle registrations in the province to ensure maximum registration of vehicles.<\/p>\n\n\n\n

Read:<\/strong> Govt to introduce new GST collection system for electricity bills<\/a><\/p>\n\n\n\n

Moreover, the finance minister also pointed out that more people and businesses need to be brought under the tax net to neutralise the pressure on existing taxpayers.<\/p>\n\n\n\n

Moreover, the meeting also discussed ways to increase the working capacity of the Board of Revenue, excise and taxation negotiations with cinema owner in the province and revenue collection arrangements made in wake of the COVID-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lahore: The government of Punjab has announced its decision to offer relaxation in the General Sales Tax (GST) rate on services in the upcoming Budget 2020-21 \u2013 in addition to prioritising property tax rate reductions and an extension in entertainment tax submission timeframes \u2013 according to news sources. These relaxations are aimed at facilitating the people amid the ongoing COVID-19 pandemic and its debilitating impact on the national economy. Read: All Pakistan Chambers President\u2019s Conference requests GST reduction to 5% The decision was taken in the third and final Resources Mobilisation Committee meeting \u2013 presided over by Punjab Minister for Finance Hashim Jawan Bakhat. The minister asked the excise and taxation department if the public was made aware of the reduction in taxes and duties. He directed the concerned officials to diligently spread awareness about the newly-reduced tax rates on vehicle registrations in the province to ensure maximum registration of vehicles. Read: Govt to introduce new GST collection system for electricity bills Moreover, the finance minister also pointed out that more people and businesses need to be brought under the tax net to neutralise the pressure on existing taxpayers. Moreover, the meeting also discussed ways to increase the working capacity…<\/p>\n","protected":false},"author":75,"featured_media":63123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[30994,30995,31000,30996],"persona":[],"class_list":{"0":"post-66265","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-budget-2020-21-punjab-to-relax-gst-on-services","9":"tag-general-sales-tax-gst-rate-on-services","10":"tag-reduced-tax-rates-on-vehicle-registration","11":"tag-resources-mobilisation-committe","12":"cat-15015-id"},"acf":[],"yoast_head":"\nBudget 2020-21: Punjab to relax GST on services - Zameen News<\/title>\n<meta name=\"description\" content=\"Government of Punjab has announced its decision to offer relaxation in the General Sales Tax (GST) rate on services in the upcoming Budget 2020-21\" \/>\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\/budget-2020-21-punjab-to-relax-gst-on-services.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2020-21: Punjab to relax GST on services - 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