Fixation of Value of Steel Products for Sales Tax Purpose
SRO 489(I)/2022 is a Sales Tax SRO dated 5 April 2022, listed by FBR as "FIXATION OF VALUE OF STEEL PRODUCTS FOR SALES TAX PURPOSE".
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
Revenue Division
Federal Board of Revenue
Islamabad, the 5th April, 2022
Notification
(Sales Tax)
S.R.O. 489(I)/2022.- In exercise of the powers conferred by proviso to clause (46) of section 2 of the Sales Tax Act, 1990, the Federal Board of Revenue, in supersession of Notification No. S.R.O. 985(I)/2021, dated the 4th day of August, 2021 and its amending Notification No. S.R.O. 1465(I)/2021, dated the 15th day of November, 2021, hereby re-fixes the minimum value of supply of locally produced steel goods specified in column (2) of the Table below, as shown against each in column (3) thereof, for the purpose of payment of sales tax on ad valorem basis, at the rate as applicable to and specified in sub-section (1) of section 3 of the said Act, namely:-
Table
(Per Metric Ton)
| Sr. No. | Goods | Value |
|---|---|---|
| (1) | (2) | (3) |
| 1. | Steel bars and other long profiles | Rs. 164,037/- |
| 2. | Steel Billets | Rs. 133,813/- |
| 3. | Steel Ingots/bala | Rs. 126,000/- |
| 4. | Ship plates | Rs. 129,584/- |
| 5. | Other re-rollable iron & steel scrap | Rs. 125,688/- |
- In case the value at which supply of above products is made is higher than the value fixed herein, the sales tax shall be charged on such higher value.
[C. No. 1/102-STB/2015 (Pt-I)]
(Anser Majeed)
Second Secretary (ST&FE-Budget)
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