The tax amount will be deposited in the return file of the income tax filer

After flour, the government has imposed advance and withholding tax on the sale of rice to be collected from distributors or dealers.

The tax will be collected from the manufacturer and the commercial importer as per Section 236-G, 236-H.

As per 236-G one percent tax will be collected from distributors and dealers while tax will be collected by the manufacturer and commercial importer.

In the case of non-filer, the advance tax will be charged at 2 percent. The tax will be charged to the buyer in addition to the amount of the product sold.

The tax amount will be deposited in the return file of the income tax filer.

Under Section 236-H, advance tax at the rate of 5 percent has to be deposited. In the case of non-filer advance tax, a 2.5 percent tax has to be paid.

Published Date: July 11, 2024