MTL termed FTO order on sales tax invoicing flawed

MG News | November 25, 2022 at 04:15 PM GMT+05:00

0:00

November 25, 2022 (MLN): The management of Millat Tractors Limited (MTL) has termed the Federal Tax Ombudsman (FTO) order on sales tax invoicing flawed as this order has serious legal and factual weaknesses, the company’s stock filings on the stock exchange showed.

To note, there is news circulating in some sections of the media that the FTO unearths massive irregularities in the Sales Tax invoicing of Millat Tractors Limited.

However, the company has decided to confront this order at the next available appellate forum. The legal and taxation provisions have also not been appreciated.

The legal and taxation provisions have also not been appreciated.

“The company is hopeful that it will forcefully defend its, legal position at all appellate forums".

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