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Fertiliser values for sales tax assessment reduced

ISLAMABAD (July 17 2004): To benefit farming community, the federal government has reduced the value of phosphoric fertilisers for assessment of sales tax at import stage and local supply.

The value of seven different types of phosphoric fertilisers has been fixed for calculation of sales tax. These included Dia-Ammonium Phosphate (DAP), Mono Ammonium Phosphate (MAP), Nitrogen Phosphate Potash Fertilizer (SOP based); Nitrogen Phosphate Potash Fertilisers (MOP based); Single Super Phosphate (SSP); Triple Super Phosphate and Nitric Phosphate (NP).

In this connection, the Central Board of Revenue (CBR) has issued SRO 609(I)/2004 here on Friday. Another SRO 610(I)/2004 has also been issued to rescind SRO 1071(I)/2003 withdrawing the value of phosphoric fertilisers fixed earlier in November 2003.

The new value would be applicable to both local supply of imported phosphoric fertilisers and domestic manufacturing.

The values (per metric ton) of these fertilisers range between Rs 2,740 PMT and Rs 4,610 PMT depending on the type and grade of phosphoric Fertilizer.

The values specified in the notification would be deemed to be the values at which the supply is actually made.

Previously, the values PMT of these fertilisers from Rs 6086 PMT to Rs 9280 PMT.

Following would be the new values of phosphoric fertilisers for the assessment of sales tax liveable at both the import stage and local supply: Dia-Ammonium Phosphate (DAP), Grade/Type N(18), P(46), K(O), value PMT Rs 4,610; Mono Ammonium Phosphate (MAP), Grade/Type N(11), P(52), K(O), Rs 4,536 PMT; Grade/Type, N(12) P(52) K(0), Rs 4,609 PMT; Nitrogen Phosphate Potash Fertilisers (SOP based), Grade/Type N(17), P(17), K(17), Rs 4,658 PMT; Grade/Type N(12), P(15), K(20), Rs 4,545 PMT; Grade/Type N(10), P(28), K(10), Rs 4,037 PMT; Grade/Type N(18), P(09), K(18), Rs 4,284 PMT; Grade/Type N(08), P(18), K(20), Rs 4,473 PMT; N(08), P(23), K(18), the value will be Rs 4,573 PMT.

Nitrogen Phosphate Potash Fertilisers (MOP based), Grade/Type N(17), P(17), K(17), the value PMT would be Rs 3,990; Grade/Type N(12), P(15), K(20), Rs 3,758; Grade/Type N(10), P(28), K(10), Rs 3,643; Grade/Type N(18), P(09), K(18), Rs 3,576; Grade/Type, N(08), P(18), K(20), Rs 3,686; Grade/Type N(08), P(23), K(18), Rs 3,865; Single Super Phosphate (SSP), Grade/Type N(0), P(18/20), K(0), the value in PMT would be Rs 1,297; Triple Super Phosphate (TSP), Grade/Type N(0), P(46), K(0), Rs 3,313 PMT; Nitric Phosphate (NP), Grade/Type N(23), P(23), K(0), Rs 3,311 PMT; Grade/Type N(20), P(22), K(0), the value in PMT would be Rs 3,023 and value of Nitric Phosphate (NP) with Grade/Type N(22), P(16) and K(0) will be Rs 2,740 PMT.

FOLLOWING IS THE TEXT OF THE NOTIFICATION ISSUED ON FRIDAY: In exercise of the powers conferred by clause (46) of section 2 of the Sales Tax Act, 1990, the Federal Government is pleased to fix the following values of phosphoric fertilisers, specified in column (2) of the Table below, for the purposes of assessment of sales tax chargeable at import stage as well as against the local supply of these fertilisers, namely:

2. The values mentioned in column (4) of the Table shall be deemed to be the values at which the supply is actually made.

3. The aforementioned values specified in the Table shall also be applicable both to the local supply of imported phosphoric fertilisers and the locally manufactured phosphoric fertilisers.

TABLE

================================================================== S.    DESCRIPTION             GRADES/TYPES       VALUE PMT (in Rs) No        (2)                     (3)                      (4) (1) ------------------------------------------------------------------ 1.   Dia-Ammonium             N(18) P(46) K(0)               4,610      Phosphate (DAP) 2.   Mono Ammonium        (i) N(11) P(52) K(0)               4,536      Phosphate (MAP)     (ii) N(12) P(52) K(0)               4,609 3.   Nitrogen Phosphate   (i) N(17) P(17) K(17)              4,658      Potash Fertilisers  (ii) N(12) P(15) K(20)              4,545     (SOP based)         (iii) N(10) P(28) K(10)              4,037                          (iv) N(18) P(09) K(18)              4,284                           (v) N(08) P(18) K(20)              4,473                          (vi) N(08) P(23) K(18)              4,573 4.   Nitrogen Phosphate   (i) N(17) P(17) K(17)              3,990      Potash Fertilisers  (ii) N(12) P(15) K(20)              3,758      (MOP based)        (iii) N(10) P(28) K(10)              3,643                          (iv) N(18) P(09) K(18)              3,576                           (v) N(08) P(18) K(20)              3,686      N(08)               (vi) N(08) P(23) K(18)              3,865 5.   Single Super Phosphate (SSP)  N(0) P(18/20) K(0)        1,297 6.   Triple Super Phosphate (TSP)  N(0) P(46) K(0)           3,313 7.   Nitric Phosphate (NP)(i) N(23) P(23) K(0)               3,311                          (ii) N(20) P(22) K(0)               3,023                         (iii) N(22) P(16) K(0)               2,740 ==================================================================

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