Fix minimum values of locally produced goods, purpose of payment of FED in ST mode on ad valorem basis
SRO 992(I)/2019 is a Federal Excise SRO dated 4 September 2019, listed by FBR as "Fix minimum values of locally produced goods, purpose of payment of FED in ST mode on ad valorem basis".
FBR publishes this SRO as scanned images, so the text below was transcribed by Qanoon Digest from the page images, with tables set out as tables. Check the official PDF before relying on any wording or figure.
Page 1
GOVERNMENT OF PAKISTAN
FEDERAL BOARD OF REVENUE
(REVENUE DIVISION)
Islamabad, the 4th September, 2019.
NOTIFICATION
(FEDERAL EXCISE)
S.R.O. 992(I)/2019.- In exercise of the powers conferred by sub-section (5) of section 12 of the Federal Excise Act, 2005, read with clause (46) of section 2 of the Sales Tax Act, 1990, the Federal Board of Revenue is pleased to fix the minimum values of locally produced goods specified in column (2) of the Table below, as shown against each in column (3) thereof, for the purpose of payment of federal excise duty in sales tax mode on ad valorem basis, at the rate as applicable under the Table-1 of the First Schedule to the Federal Excise Act, 2005, namely:-
TABLE
| Sr. No. | Goods | Value |
|---|---|---|
| (1) | (2) | (3) |
| 1. | Steel bars and other long profiles | Rs. 83,000 per metric ton |
| 2. | Steel Billets | Rs. 74,000 per metric ton |
| 3. | Steel Ingots/bala | Rs. 72,000 per metric ton |
| 4. | Ship plates | Rs. 72,000 per metric ton |
| 5. | Other re-rollable iron & steel scrap | Rs. 71,000 per metric tons |
- In case the value of the goods specified in the Table above, as determined under sub-section (1) of section 12 of the Federal Excise Act, 2005, is higher than the values fixed herein, the value of goods shall be such higher value.
[C. No. 1/2-STB/2019 (Pt)]
(Tauqeer Ahmed)
Secretary (ST&FE-Budget)
Which later SROs refer to this one?
SROs whose FBR title names SRO 992(I)/2019, usually to amend or rescind it.
- SRO 982(I)/20214 August 2021Rescission of SRO 992(I)/2019 dated 04.09.2019
Related Federal Excise SROs on excise duty rates
- SRO 608(I)/201911 June 2019Cigarette Notification
- SRO 1150(I)/201818 September 2018Levy of Excise Duty on locally produced Cigarettes
- SRO 627(I)/201824 May 2018FED rates on Cigarettes under rescission of S.R.O 561(I)/2018 dated 30.04.2018
- SRO 561(I)/201830 April 2018Increase in rate of Federal Excise Duty on Cigarettes
- SRO 407(I)/201729 May 2017Enhancement of rate of Federal Excise Duty on Cigarettes.
- SRO 473(I)/20163 June 2016Rate of excise duty on cigarettes.