Federal Minister for Finance and Revenue Ishaq Dar chaired the 6th meeting of the National Tax Council (NTC) today.
The meeting considered and approved the recommendations of the Executive Committee of the NTC dated 28-03-2023, regarding draft Place of Provision of Service Rules, which is a major milestone towards GST harmonization across the country. The approval will help achieve the prior actions for the World Bank-funded RISE program.
Finance Minister Senator Mohammad Ishaq Dar chaired 6th meeting of National Tax Council and approved the recommendations of Executive Committee of the NTC regarding draft Place of Provision of Service Rules. This is a major milestone towards GST harmonization across the country. pic.twitter.com/pg8jx0RQaI
— Ministry of Finance, Government of Pakistan (@Financegovpk) April 5, 2023
The NTC decided with consensus that the Place of Provision of Service Rules will take effect from 1st May 2023, after approval by the respective provincial cabinets. However, the exclusion of electric power transmission from the list of goods by FBR, for which the Sales Tax Act is required to be amended through the Finance Bill, will take effect from 1st July, 2023.
The finance minister appreciated the stakeholders for building consensus and for settlement of the harmonization of GST in the country.
Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, Engr. Zamrak Khan Achakzai, Finance Minister Balochistan, S.M Ahsen Tanveer, Minister for Industries Punjab, Himayatullah Khan, Adviser to the CM KP on Finance, SAPM on Revenue Tariq Pasha, Special Secretary Finance, Chairman FBR, Provincial Finance Secretaries and other senior officers from Finance Division and FBR attended the meeting.
