Budget: Multiple Items Placed in Third Schedule, GST Imposition to Increase Prices of Essential Goods
Islamabad (Kudrat Daily) — Prices of several essential and consumer goods are expected to rise following the imposition of General Sales Tax (GST) under the federal budget for the upcoming fiscal year.
According to the Finance Bill, inclusion of various items in the third schedule is expected to generate an additional revenue of Rs70 billion for the national exchequer.
The implementation of GST will make a wide range of products more expensive, including milk, dairy products, sweets, jams, jellies, ketchup, spices, edible oil, ghee, crockery, hair oil, shampoo, shoes, perfumes, body sprays, bakery items, and plastic household goods. Sanitary products will also become costlier.
Other items affected include suitcases, cameras, kitchenware, travel bags, e-cigarettes, agricultural medicines, and disinfectant products.
In addition, taxation on luxury electric vehicles is expected to generate Rs25 billion, while removing profit differences between industrial and commercial importers is projected to bring in an additional Rs30 billion in revenue for the national treasury.
Officials say these measures are part of broader fiscal reforms aimed at increasing revenue collection in the upcoming budget.
