ISLAMABAD: The federal government has proposed to make it mandatory for manufacturers to obtain brand licenses for each separate brand or Stock Keeping Unit (SKU).
According to an update in the finance bill FY22, any specified brand or SKU found to be sold without obtaining a license from FBR shall be deemed counterfeit goods and liable to outright confiscation and destruction in the prescribed manner and any other penal actions.
AIt may be mentioned that SKU is a scannable barcode, most often seen printed on product labels in a retail store. The label allows vendors to automatically track the movement of inventory besides the characters are a code that tracks the price, product details, and the manufacturer.
Similarly, it has also been proposed to make domestic consumers, who are not in the active taxpayers’ list, liable to pay 7.5 per cent advance tax over electricity bills exceeding Rs25,000 per month. Presently, domestic consumers whose gross bill exceeds Rs75,000 per month are paying 7.5pc tax.