The Federal Board of Revenue has decided to collect Rs2,506 under the General Sales Tax (GST) during the next upcoming financial year, FY21-22.
The revenue target set by the tax watchdog for the incoming financial year eyes over 30 per cent growth in the sales tax revenue compared to the outgoing financial year. In FY21-22, the FBR says it will collect Rs6.61 billion under sales tax on products.
The FBR had set Rs1,925 billion as its sales tax target in FY20-21 and it only managed to collect Rs1,415 billion in the July-March period. In FY19-20, the FBR had collected Rs1,250 billion in the July-March period.