ISLAMABAD: Keeping in view the decision of Economic Coordination Committee of the Cabinet (ECC), the Federal Board of Revenue (FBR) has decided to issue a Statutory Regulatory Order (SRO) to exempt wheat bran from whole of Sales Tax (ST).
The tax authority, through the SRO will exempt wheat bran from ST that falls under Pakistan Customs Tariff (PCT) heading 2302.3000 to remove an anomaly created through Finance Act 2015.
Sources said that one of the objectives of the budgetary exercise for the year 2015-16 was to withdraw sales tax exemptions on non-essential goods.
The measures so proposed also included withdrawal of sales tax exemption on poultry and cattle feeds and their ingredients. Initially, it was proposed in the Finance Bill, 2015, to withdraw the exemption and levy sales tax at reduced rate of 5 percent on poultry and cattle feeds and their ingredients.
