Sales Tax Zero Rating facility restored on various items

The Federal Bureau of Revenue has restored the facility of zero-rating on various dairy products, including stationery items and bicycles along with their raw materials, packing materials, sub-components, components, sub-assemblies and assemblies, imported or purchased locally for manufacture of said goods.

The FBR said the decision has been taken as per the directions of Federal Minister for Finance  Ishaq Dar.

In this regard S. R. O. 670(I)/2013 dated 18th July, 2013 has been issued by FBR on Thursday, a statement said.

The Items include: Colors in sets, Writing, drawing and marking inks, Erasers, Exercise books, Pencils sharpener, Geometry boxes,  Pens, ball pens, markers and porous tipped pens,  Pencils including color pencils,  Milk including flavored milk, Yogurt, Cheese, Butter,  Cream, Desi ghee,  Whey, Milk and cream, concentrated and added sugar or other sweetening matter, Preparations for infant use put up for retail sale, Fat filled milk and Bicycles.

The zero-rating under this notification shall be available subject to determination of input/output ratios by the Input-Output Co-efficient Organization (IOCO), if not already determined under an earlier concessionary notification issued for such goods.

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Posted by Tahir Khan on Jul 18 2013. Filed under Business, Latest News, National. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.