Friday, December 2, 2022

FBR notifies new ex-mill price of sugar

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ISLAMABAD: The Federal Board of Revenue (FBR) on Monday fixed Rs 72.22 per kg as the ex-mill rate of sugar for the purpose of assessment of sales tax, ARY News reported.

The FBR has issued S.R.O. 1027(1)12021 for the fixation of the value of the domestically produced white crystalline sugar.

Earlier, T=the Federal Board of Revenue (FBR) had deferred the implementation of the sales tax on the retail price of sugar till November 30, 2021.

As to the notification issued by the FBR, the implementation of the sales tax, which was introduced through the Finance Act, 2021, has been deferred for five months.

Read more: ECC APPROVES INCREASING PRICES OF FLOUR, GHEE, SUGAR

The refined sugar was added to the Third Schedule of the Sales Tax Act, 1990, under which the sales tax on the supply of sugar would be applicable on a retail basis.

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