Amendment in SRO 77(I)/2013 (Federal Excise Act,2005)
Federal Government has issued SRO 1072(I)/2013 dated
27.12.2013 whereby amendments have been made in its notification No.
SRO 77(I)/2013 dated 07.02.2013. It may be recalled that SRO 77(I)/2013
relates to concessionary rate of excise duty on local supply equivalent to the
sugar exported by sugar mills. After this amendment, the concessionary rate
of duty has been restricted to a maximum of five hundred thousand metric
tons of sugar, as per decision of the ECC in its meeting held on 07.09.2013.
Further, the concessionary rate was applicable in the tax period succeeding
the tax period in which the export took place. The period has now been
enhanced to three tax periods.