Urdu Point reported that Pakistan’s Federal Board of Revenue has increased the minimum prices of steel products vide SRO 985 dated August 4th, 2021, in the wake of increased prices of steel products in the domestic and international markets. The new prices of Bars have been fixed at PKR 140,000 (USD 856); Billets at PKR 125,000 (USD 764), Ship-plates at PKR 120,000 (USD 734) and Scrap at PKR 118,000 (USD 721). Federal Board of Revenue said “Upward revision was essential in the wake of recent surge in local and international prices of steel products and to prevent possible loss of revenue. Minimum prices would be fixed on quarterly basis.”Federal Board of Revenue is empowered to fix minimum prices of steel products under proviso to clause (46) of section 2 of the Sales Tax Act, 1990. Last time the prices of steel products were fixed by Federal Board of Revenue vide SRO 992 dated 4th Sep, 2019
Urdu Point reported that Pakistan’s Federal Board of Revenue has increased the minimum prices of steel products vide SRO 985 dated August 4th, 2021, in the wake of increased prices of steel products in the domestic and international markets. The new prices of Bars have been fixed at PKR 140,000 (USD 856); Billets at PKR 125,000 (USD 764), Ship-plates at PKR 120,000 (USD 734) and Scrap at PKR 118,000 (USD 721). Federal Board of Revenue said “Upward revision was essential in the wake of recent surge in local and international prices of steel products and to prevent possible loss of revenue. Minimum prices would be fixed on quarterly basis.”Federal Board of Revenue is empowered to fix minimum prices of steel products under proviso to clause (46) of section 2 of the Sales Tax Act, 1990. Last time the prices of steel products were fixed by Federal Board of Revenue vide SRO 992 dated 4th Sep, 2019
