Values of minerals for the purpose of sub-section (4) of section 236V of Income Tax Ordinance, 2001

GOVERNMENT OF PAKISTAN REVENUE DIVISION FEDERAL BOARD OF REVENUE * * * * * Islamabad, the 2nd March, 2020. NOTIFICATION (Income Tax) S.R.O.140(1)/2020.- In exercise of the powers conferred by sub-section (1) of section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Board of Revenue is pleased to direct that the following further amendments shall be made in the Income Tax Rules, 2002, the same having been previously published vide Notification No. S.R.0.1226(1)/2018, dated the 5th October, 2018, as required by sub-section (3) of the said section, namely:- In the aforesaid Rules, in Chapter-XIX, after rule 231H, the following new rule shall be added, namely:- "2311. Values of minerals for the purpose of sub-section (4) of section 236V of the Income Tax Ordinance, 200t- (1) The values of minerals specified in column (2) of the Table below for the purposes of sub-section (4) of section 236V of the Ordinance are specified in column (3) thereof, namely:- TABLE S.No Name of mineral Rate per metric tonne (in Rupees) (1) (2) (3) 1 Argilaceous clay 500 2 Asbestos 4875 3 Antimony 11700 4 Agglomerate 6500 5 Barite 6500 6 Basalt 9100 7 Bentonite 3900 8 Bauxite 4550 9 Bajri 780

10 Brine/salt 570 11 Barytes 875 12 Ball clay 875 13 Coal 5000 14 Clay 1625 15 China Clay 625 16 Calcite 1300 17 Celestite 1625 18 Conglomerate 1950 19 Chromite 18750 20 Chalk 2500 21 Dolomite 2250 22 Diorite 6500 23 Fluorite 10400 24 Fullers Earth 1300 25 Fire Clay 1300 26 Gypsum 1950 27 Granite 13000 28 Gabro stone 9750 29 Granodiorite 9750 30 Gravel 750 31 Iron ore 5200 32 Limestone (for manufacturers of 4500 cement) 33 Limestone (other than cement factory) 1500 34 Laterite 815 35 Lake salt 875 36 Marble onyx 16250 37 Magnesite 3900 38 Marble (other than onyx) 3900 39 Manganese 5200 40 Ochre / red ochre 3900 41 Ordinary stone 910 42 Pumice 1950 43 Quartz 3900 44 Quartzite 3250 45 Rock salt 875 46 Silica sand 4500 47 Sulphur 3900 48 Soap stone 5250

49 Serpentine 3250 50 Shale (cement industry) 2500 51 Sand 650 52 Shale 750 53 Slate Stone 1875 54 Sandstone 750 55 Tar sand 490 56 Tuff 1625 Advance tax shall be collected by the provincial authority or a person authorized by the provincial authority to collect or recover royalty on minerals excavated and transported from leased area. Where a person having authority to collect or recover royalty on behalf of the provincial authority- fails to collect tax as required; or having collected tax fails to pay the tax to the Commissioner as required under section 160, the person having authority to collect or recover royalty as well as provincial authority shall be jointly and severally liable to pay the amount of tax to the Commissioner who may pass an order to that effect and proceed to recover the same:. [F.No.4(131)IT-Budget/2016] (Abdul Wahid Shar) Secretary (Income Tax Budget)