SOHAIL SARFRAZ

ISLAMABAD: The Federal Board of Revenue (FBR) has increased the value of domestically produced white crystalline sugar from Rs56 per kg to Rs60 per kg for assessment of sales tax.

In this regard, the FBR issued SRO.812(I)/2016 on Friday.

According to the notification, the sales tax value of domestically produced White Crystalline Sugar was fixed at Rs.60 per kg and value of imported White Crystalline Sugar was fixed at US$ 725 per MT.

Following is the text of the notification issued on Friday: S.R.O. 812(1)/2016.- In exercise of the powers conferred by the first proviso to clause (46) of Section 2 of the Sales Tax Act, 1990, and in supersession of its Notification No. S.R.O. 492(1)/2016, dated the June 30, 2016, the Federal Board of Revenue is pleased to fix the following values of White Crystalline Sugar falling under heading Nos. 1701.9910 and 1701.9920, of the First Schedule to the Customs Act, 1969 (IV of 1969), as specified in the table below, namely:

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S.No     Description                              Value


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(1)         (2)                                     (3)


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1      Domestically produced white         Rs.60 per kg


       crystalline sugar


2      Imported white crystalline sugar  US$ 725 per MT


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