Breads prepared in bakeries, restaurants, food chains and shops will be taxed at 17% rate for nearly Rs5 billion every year. The 17% GST on Cinchona bark will fetch a minimum of Rs4 billion every year. Cotton seed is proposed to be taxed at 17% GST for Rs3 billion. Combined harvesters up to five years old to face 17% GST, oil cake and solid residue will have 17% tax and to generate minimum Rs5 billion revenue. Machinery, equipment and spares for BMR or expansion projects for power generation will also be subject to 17% GST for Rs42 billion.

Source: The Express Tribune December 30, 2021 20:09 UTC