Sales Tax Exemption on Ingots and Bar, Rods Etc. of Iron and Steel Etc

SALES TAX EXEMPTION ON INGOTS AND BAR, RODS ETC. OF IRON AND STEEL ETC. 58Notification No. S.R.O. 732(I)/89, dated 10th July, 1989.--In exercise of the power conferred by sub-sections (1) and (2) of section 7 of the Sales Tax Act, 1951 (III of 1951), the Federal Government is pleased to exempt locally produced goods specified in column (2) of the Table below falling under heading NO. of the First Schedule to the Customs Act, 1969 (IV of 1969), as it was in force immediately before the 26th June, 1988, specified in column (3) of the Table from so much of the tax payable under the aforesaid Act as is in excess of the amount specified in column (4) of the Table subject to the conditions stated herein below:- the manufacturer takes out appropriate licence for the manufacture of such goods; the manufacturer elects in writing within ten days either from the issue of this notification or from the commencement of production for the first time, whichever occurs later, to avail the exemption available under this notification; and the manufacturer shall not claim refund or adjustment of sales tax under any of the provisions of the Sales Tax Act, 1951 (III of 1951). TABLE S.No. | Description of goods | PCT No. | Rate (1) | (2) | (3) | (4) 1 | Ingots | 73.06 | Rs. 375 per metric ton 2 | Bars, rods (including wire rods), angles, shapes and sections, of iron or steel | 7.10 and 73.11 | Rs. 175 per metric ton 2. This notification shall remain in force until the 30th 59[November], 1989. 58. Reported as PTCL 1990 St. 31 59. Substituted for the word "September" by Notification No. SRO 993(I)/89, dated 30th September, 1989. As per Press note this Notification has been further amended on 30th November, 1989 whereby the words of figures "30th November" has been substituted by words and figures "31st December"