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FBR announces tax relief of Rs24.14b on domestic supply of sugar

FBR announces tax relief of Rs24.14b on domestic supply of sugar

ISLAMABAD: Federal Board of Revenue (FBR) has granted concession of Rs24.14 billion as sale tax on domestic supply of sugar.

According to details, the FBR granted concession of Rs24.41 billion on supply of domestic sales of sugar to end consumers during tax year 2020.

The concession was granted as reduced rate of eight percent on sales of the commodity made by sugar mills under 8th schedule of Sales Tax Act, 1990.

The FBR said that the beneficiary of this concessional rate was general public.

Under the reduce rate of sales tax under 8th Schedule, the FBR granted tax relief of Rs35.45 billion on consumer items mainly food items.

The details of the tax relief revealed that an amount of Rs6.77 billion was granted as sales tax concession to soya bean meal as industrial input.

Further an amount of Rs2.58 billion has been granted as tax concession on ingredients of poultry feed, cattle feed, except soya bean meal of PCT heading 2304.0000 and oilcake of cotton-seed falling under PCT heading 2306.1000.