Increase in GST declines purchasing power of middle class

MG News | September 18, 2019 at 04:35 PM GMT+05:00

0:00

Sep 18, 2019 : Owing to the increase in sales tax on clothing brands in current budget, the burning trend of weekly or monthly sales seemed to be climbing down as compared to last few years. In case of branded outlets integrated through electronic fiscal devices with FBR online system for which general sales tax rate was 6% in last fiscal year 2018-19.

However, general sales tax in current budget, varying from 14% to 17% from different brands, has actually lowered purchasing power of middle and lower middle groups of the society for branded clothes even from, often offered, clearance sales in different outlets and shopping malls.

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