ISLAMABAD, Dec 23: The government has allowed zero-rated supply of imported cotton to facilitate the textile manufacturers. The decision was announced through a sales tax notification SRO1003 issued on Thursday
by amending the budgetary SRO500 of 2004.
Under this facility, it was estimated that import of cotton will particularly register increase from America and Egypt. The government had already allowed zero-rated supply of local cotton.
The notification reads as "in the aforesaid notification, in the table, against S.No. 3 in column 1) a) in column (3), for the heading no. 5202.0090, the heading no 52.01 shall be substituted and in column 4) for the condition prescribed therein, the world nil shall be substituted".
