Updates: SRO 09(I)/2013 dated 04.01.2013

The Federal Board of Revenue has issued procedure for adjustment of sales tax paid by steel melters /re-rollers on import of re-meltable iron and steel scrap vide Sales Tax General Order No. 1 of 2013 dated 03.01.2013. Adjustment will be allowed to steel melters and re-rollers. To avail the adjustment under STGO No. 1 of 2013, the steel melter/re-roller will apply to the concerned Commissioner alongwith copy of GD in his name and last three paid bills of electricity of operative steel melting / re-rolling unit. The concerned Commissioner will issue certificate of adjustment. Concerned DISCO/ KESC will accordingly reduce the amount of sales tax in the next electricity bill. In case the amount is not adjusted in full, the remaining excess amount will be adjusted in the subsequent month. This adjustment, however, will not be available to units not operating under Special Procedure or operating on baggase or other wastes of sugar mills as fuel.

Vide SRO 09(I)/2013 dated 04.01.2013 amendment has been made in SRO 693(I)/2006 dated 30th November, 2006. Import of sub-components and components of motorcycles by manufacturers of motorcycles declared as ‘new entrant’ in any kit form for manufacture of motorcycles of 100cc and above shall be exempt from additional customs duty for a period of five years from start of commercial production subject to certain conditions with regard to minimum level of localization.