The Federal Board of Revenue (FBR) has re-fixed the minimum value on supply of locally produced steel goods including Steel bars, Steel Billets, Steel Ingots/bala and Ship plates for calculation of sales tax.
The FBR has issued an SRO2402(I)/2025 in super session of its Notification No SRO1636(1)/2024.
The FBR has re-fixed the minimum value of supply of locally produced steel goods for the purpose of payment of sales tax on ad valorem basis, at the rate as applicable and specified from December 10.
In case of steel bars and other long profiles, the minimum values inclusive of Sales Tax would be average national retail price of steel bars calculated as average of retail prices of steel bars in Lahore, Karachi, Peshawar, Quetta, Rawalpindi and Islamabad as published by Pakistan Bureau of Statistics (PBS) on its website every month minus one thousand and five hundred rupees per metric ton.
For steel billets, the minimum values inclusive of Sales Tax would be 85 percent of value. In case of steel Ingots/bala, the minimum values inclusive of Sales Tax would be 80 percent of value. For ship plates, the minimum values inclusive of Sales Tax would be 75 percent of value.
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