The sale of rice is subject to an advance and withholding tax imposed by the government, which is to be paid to distributors or dealers, following flour.
The manufacturer and the commercial importer will be liable for the tax in accordance with Sections 236-G and 236-H.
In compliance with 236-G, distributors and dealers are required to collect one percent tax, whilst manufacturers and commercial importers are responsible for collecting the remaining tax.
The advance tax will be assessed at a rate of two percent in the event of nonfiling. In addition to the value of the product sold, the customer will be charged the tax.
In the income tax filer’s return file, the tax amount will be placed.
An advance tax deposit of five percent is required under Section 236-H. A tax of 2.5 percent is due in the event of non-filer advance taxation.
