Following flour, rice sales are subject to advance and withholding taxes levied by the government and collected from distributors or dealers.
In accordance with Sections 236-G and 236-H, the tax will be collected from both the maker and the commercial importer.
In accordance with 236-G, the manufacturer and commercial importer will collect tax, while distributors and dealers will pay one percent of the total.
If the taxpayer does not file, a two percent advance tax charge will be made. The customer will be charged the sales price of the product plus the applicable tax.
The tax amount will be placed in the taxpayer’s income tax return file.
A five percent advance tax deposit is required under Section 236-H. If an advance tax is not filed, there is a 2.5 percent tax that needs to be paid.
