Fertiliser industry asks govt to rationalise GST, release Rs57bln refunds Business May 27, 2021 LAHORE: Fertiliser industry has urged the federal government to clear its pending refunds of Rs57 billion and provide relief to the sector in its upcoming budget by rationalising general sales tax (GST) for ease of doing business. The industry also demanded for rationalising of input-output adjustment formula of the GST. Presently, fertiliser manufacturers are paying input at 5-17 percent of GST rate and collecting GST on output at 2 percent. This was resulting in approximately Rs7 to Rs8 billion annual unadjusted input sales tax for the sector. According to the budget proposals sent to the Federal Minister for Finance Shaukat Tarin by the Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC), the industry was being haunted by cash flow challenges and associated financial cost due to the pending dues with the federal government.