RGST Approved in Senate
Reformed General Sales Tax (RGST) has been approved by Senate Assembly of Pakistan. RGST Bill was presented by the Standing Committee for Finance. Today on 26th November, 2010 this bill is passed by Senate in its second session after Jumma Prayer. Debate and discussion were made on this bill in Senate as per law. Opposition and some government’s coalition parties also opposed GST Reforms Bill while members of PML-Q walk out from House. Now this GST Reform bill will be sent to National Assembly for approval.
It is interesting to know that PPPP is in very much favor of this RGST Bill and they want to approve it at any cast. While opposition parties, civil societies and the public are against this bill as they think that after the implementation of this bill, the burden of inflation on poor will be almost doubled.
RGST is not a new tax but it is a revised/reformed form of General Sales Tax. And according to news, it will add other products and services in GST Net.