FBR grants extension in period for repayment of ST paid on steel products

ISLAMABAD: Federal Board of Revenue (FBR) has allowed additional period of two months for repayment of sales tax paid on steel products.

In this regard the FBR issued SRO 1244(I)/2017 and amended SRO 308(I)/2008 dated March 24, 2008 to implement the decision.

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The latest SRO allowed the extension in time limit for repayment till June 01, 2012 instead of March 31, 2012.

Through SRO 333(I)/2012 dated March 31, 2012 is an amendment in SRO 308(I)/2008 to increase the rate of repayment of sales tax paid on steel products under chapter XI of Sales Tax Special Procedure Rules, 2007 to registered persons on expect from Pakistan of mild steel re-rolled products manufactured from ingots and billets other than imported or Pakistan Steel Mills or of people steel mills from Rs. 5,960 PMT to Rs. 6,306 PMT with effect from 31st day of March, 2012.