Islamabad (Commerce Desk): The Federal Board of Revenue (FBR) has further tightened the sales tax rate and conditions for concessional rates on electricity in the steel sector. According to a notification, steel re-rollers will pay Rs30 in sales tax per unit of electricity, while for steel melters and composite units in the former FATA and PATA areas using local scrap, the rate will be Rs20 per unit and Rs5 per unit if specific conditions are met. The tax collected on electricity will be treated as advance tax and may be adjusted against output sales tax.
