The National Bureau of Revenue (NBR) on Monday announced that it has cancelled the decision to hike VAT on auto workshops and motorbike repairing garages by 5 percent to 15 percent, meaning the previous 10 percent VAT rate will be reinstated.
It was the government’s latest retreat from a decision to hike VATs on 100 products and services, amid widespread concerns that the hikes would further stoke inflation.
Earlier, the NBR scrapped VAT hike orders targeting restaurants, medicines and mobile bills and reduced the new hikes for branded clothes, branded sweets, and non-AC residential hotels.
bd-pratidin/GR
