FBR Increases Sales Tax on Local and Imported Tea
The Federal Board of Revenue (FBR) has determined the minimum retail price of imported and local supply of tea at Rs. 1,200 per kg for the purpose of payment of sales tax.
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In this regard, the FBR issued an S.R.O. 1735(1)/2024 here on Friday.
Under the new notification, the Minimum Retail Price (excluding Sales Tax) of tea has been fixed at Rs.1,200 per kg.
As per the notice, through exercise of powers under the first proviso to clause (46) of section 2 of the Sales Tax Act, 1990, the FBR has determined the minimum retail price of imported and local supply of tea falling under respective headings of 09.02 of the First Schedule to the Customs Act, 1969 (IV of 1969) specified in column (3) thereof for the purposes of payment of sales tax at the rate as applicable to and specified, FBR said.
In case such value is more than the value as fixed under herein, the sales tax shall be charged at such higher value.
FBR Increases Sales Tax on Local and Imported Tea
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