Millat Tractors to resume production tomorrow
KARACHI: Millat Tractors Ltd (MTL) will resume production activities on Thursday.
In a stock filing on Tuesday, the company said sales would continue to be restricted until the Federal Board of Revenue (FBR) clarifies the sales tax refund procedure and applicability.
MTL suspended tractor production on Aug 22 till further notice due to the government’s failure to issue a mechanism for payment of refund claims.
The general sales tax (GST) on tractors is 10 per cent and the GST on all input raw materials is 18pc...
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