Fixation of Value of Steel Products for Sales Tax Purpose

Government of Pakistan Revenue Division Federal Board of Revenue ***** Islamabad, the 17th October, 2024. Notification S.R.O. 63 6(1)/2024.- In exercise of the powers conferred by first proviso to clause (46) of section 2 of the Sales Tax Act, 1990, and in supersession of its Notification No. S.R.O. 501(1)/2023, dated the 20th day of April, 2023, the Federal Board of Revenue is pleased to hereby re-fix as specified in column (3) of the Table below the minimum value of supply of locally produced steel goods specified in column (2) 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. 205,000/- Steel Billets Rs. 175,000/- 3• Steel Ingots/bala Rs. 160,000/- Ship plates Rs. 154,000/- 2. In case the value at which supply of the aforesaid products made is higher than the valuie fixed herein, the sales tax shall be charged on such higher value. IC. No. 1/102-STB/2015 (Pt-1)1 ( nser ajeed) Second Secretary (ST&FE-Budget)