17 percent sales tax imposed on potassic fertilisers

The Federal Board of Revenue (FBR) has imposed 17 percent standard sales tax on the import and local supply of Potassic Fertilizers both Sulphate of Potash (SOP), Muriate of Potash (MOP), nitrogenous fertilisers and calcium ammonium nitrate. The FBR rescinded SRO.103 (I)/2005 and SRO.15 (I)/2006 through a SRO.313 (I)/2011 issued here on Saturday.
Through SRO.103 (I)/2005, the government had fixed the value of Potassi0c Fertilisers both Sulphate of Potash (SOP) and Muriate of Potash (MOP), for the purposes of assessment of sales tax chargeable at import stage as well as against the local supply of these fertilisers at Rs 4610 per metric ton. This fixed value of assessment of sales tax has been withdrawn by rescinding SRO.103 (I)/2005.
The FBR has also imposed 17 percent sales tax on the locally produced nitrogenous fertilisers, calcium ammonium nitrate. Under the SRO.15 (I)/2006, the FBR has fixed the value of taxable supply of locally produced nitrogenous fertilisers, calcium ammonium nitrate (CAN) at Rs 3765 per metric ton irrespective of the value at which supply is made. Now, the FBR has rescinded the SRO.15 (I)/2006 through the SRO.313 (I)/2011 and abolished sales tax on the locally produced nitrogenous fertilisers and calcium ammonium nitrate.