Issuance of Special Procedure for Adjustment of Sales Tax due on Fertilizer rules, 2015
Vide SRO 1198(I)/2015 dated 03.12.2015, Federal Government has issued “Special Procedure for Adjustment of Sales Tax due on Fertilizers Rules, 2015” prescribing procedure for adjustment of sales tax on account of subsidy announced by Federal Government on supply of Phosphatic fertilizer. Fertilizer manufacturer / importer is required to provide complete details of sales showing NTN / CNIC of the buyer to Fertilizer Cell developed by FBR. A report on the same will be forwarded by the Fertilizer Cell to State Bank within seven days. Manufacturer / importer shall be entitled to claim adjustment on the basis of the report of Fertilizer Cell to the extent of amount of sales tax in the monthly sales tax return.
A copy of the Notification can be accessed here: