Govt proposes tax at source cut on 60 essential items
Collected Photo
The government has taken a major initiative to reduce tax at source on 60 essential and agricultural products to control inflation and lower the cost of living.
According to the proposal, the tax at source has been set at 0.5 percent, reduced from previous rates of 5 percent, 2 percent, and 1 percent. The products include basic agricultural and consumer goods such as paddy, rice, wheat, potato, livestock, poultry, fish, onion, garlic, ginger, salt, sugar, edible oil, and seeds.
The move aims to improve the standard of living for every individual and family in the country. It is expected to play an effective role in easing the pressure on public life caused by the unchecked rise in commodity prices.
Various government sources said that this decision was made as part of implementing election promises. Officials believe it will bring relief to the essential commodities market and reduce the financial burden on the public.
