The Central Board of Revenue (CBR) has included two more types of phosphatic fertilisers in the concessionary SRO for the assessment of sales tax at both import/local supplies.
Under a new notification, the value of Mono Ammonium Phosphate (MAP), Grade N(12), P(52), K(0) will be Rs 9278 per metric ton (PMT) while value of Nitro Phosphate (NP) of Grade N(22) P(16) K(6) will be Rs 7076 PMT for levying sales tax.
The CBR has amended SRO. 1071(I)/2003 through SRO. 17(I)/2004 issued here on Monday.
Details revealed that the value of seven different types of phosphatic fertilisers was fixed for calculation of sales tax on import and local supply. These included Dia-Ammonium Phosphate (DAP), Mono Ammonium Phosphate (MAP), Nitrogen Phosphate Potash Fertiliser (SOP based); Nitrogen Phosphate Potash Fertilisers (MOP based); Single Super Phosphate (SSP); Triple Super Phosphate and Nitro Phosphate (NP).
The (Per Metric Ton) value of these fertilisers ranges between Rs 6086 to Rs 9280 depending on the type and grade of phosphatic fertiliser. The value specified in the notification would be the values at which the supply is actually made.
Later, CBR amended SRO. 1071 to include two more types of fertiliser in the concerned list for assessment of sales tax.
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