ISLAMABAD: To promote construction activities in Islamabad Capital Territory (ICT), the federal government announced to waive off five per cent General Sales Tax (GST) on multiple construction and property services.
The announcement was made after Federal Board of Revenue (FBR) amended the ICT Ordinance 2001 to offer an incentive to property developers, promoters, and retailers in the capital, which is applicable on sales worth Rs50 million annually
Additionally, every approved or sponsored low-cost housing projects under the Pakistan Development Authority (PDA) will also be qualified to avail this waiver.
The developers, retailers, and promoters availing the waivers will not be allowed to file tax adjustment or refund claims.
In addition to boosting economic growth through construction and development, the offered incentive will support over 70 allied industries including steel, cement, hardware, glass, plumbing, wood, paint electrical wiring and equipment etc., and also create an employment front given the pandemic outbreak.
For news and blogs, visit Graana.com.
Rice, a dietary staple for millions worldwide, is a cornerstone of Pakistan’s agriculture and economy.…
ISLAMABAD: The federal government is assessing the feasibility of routing 60% of public sector imports—such…
Kali Tanki, a well-known location in Rawalpindi, has gained recognition for its strategic position, historical…
Swat, famously known as the "Switzerland of Pakistan," is a land of mesmerizing beauty. It is…
Millennials, often referred to as the “financially cautious generation,” are reshaping the investment landscape. Known…
Graanic, Pakistan's premier organic food brand, has officially launched its new restaurant at Mall of…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
