National Board of Revenue (NBR) has given VAT and other supplementary duty on import of raw materials for the manufacture of compressors of refrigerators and compressors for the benefit of local manufacturers. This facility was provided till June 30, 2021. The two circulars issued by the NBR were made public on Sunday.
On July 1 last year, the NBR lifted VAT and supplementary duty on raw materials for the manufacture of refrigerators and ACs. After this, NBR again took the decision after a year. The decision taken last year will expire on June 30, 2019. And last year, VAT and supplementary duty on various raw materials of AC and refrigerators were lifted, but the compulsory parts of these two products were outside the coverage area. Now domestic refrigerators, AC and compressor manufacturers can import these products without VAT and supplementary duty.
NBR VAT policy member said. Rezaul Hasan said in the first light, 'We have given this opportunity to encourage domestic art'.
Rezaul Hassan said before that the compilers had to be brought from abroad. The country's money could have gone out. Now we will be prepared in the country due to the withdrawal of VAT and duty on its equipment. The country's money will remain in the country.
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