Fixation of Value of Steel Products for Sales Tax Purpose

Government of Pakistan Revenue Division Federal Board of Revenue ***** Notification (Sales Tax) Islamabad, the 20th April, 2023 S.R.O. 501(1)/2023.- 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. 489(1)/2022, dated the 5' day of April, 2022, the Federal Board of Revenue is pleased to hereby re-fix 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) Steel bars and other long profiles Rs. 225,000/- Steel Billets Rs. 195,000/- Steel Ingots/bala Rs. 180,000/- Ship plates • Rs. 172,000/- Other re-rollable iron & steel scrap Rs. 160,880/- Re-meltable iron & steel scrap (72.04) Rs. 155,000/- 2. In case the value at which supply of aforesaid 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 nser jeed) Second Secretary (ST&FE-Budget)