ISLAMABAD, July 1: The Central Board of Revenue (CBR) has notified minimum level of value addition for the levy of general sales tax (GST) at retail stage of six items.
The decision was taken through a sales tax notification SRO 678 of 2006, issued here on Saturday by amending the Sales Tax Special Procedures Rules, 2006.
According to the notification, the retail sector will pay sales tax on the basis of a minimum value of 4 per cent in case of motorcycles; rubber tyres 3pc; Rs1,000 per ton mild steel products, steel bars etc; electronic goods of domestic use (Pakistani origin) 3 per cent; flat rolled products of chapter including tin plate and tin free steel 3 per cent and sanitary wares and tiles 4 per cent.
Through the same notification the CBR also notified new special procedure for payment of sales tax by steel melters and re-rollers, invoices and returns, records, responsibility of all Pakistan Steel Melters and All Pakistan Steel Re-rollers Association.
New special procedure for payment of sales tax by ship breaking industry has also been notified regarding registration of new units, value for assessment at import stage, payment of tax, input tax adjustment, wastages, records and invoices and time limit for discharging sales tax liability and audit.
