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Govt generates Rs31 72 bn general sales tax on sugar

July 19, 2021 LAHORE: The government generated Rs31.72 billion under the head of general sales tax on sugar while the Punjab government failed to implement the price of Rs85 per kg fixed by it. According to the official data available with The News, sugar millers sold 2.474 million metric tons sugar during December 2020 to May 2021. According to the sales tax returns filed by the sugar millers to the Federal Board of Revenue (FBR), the sugar millers declared that they sold Rs 174.285 billion worth of sugar during this time while average ex-mill rate was declared at Rs70.42 per kg without adding sales tax. After adding wholesale margin and distribution cost of Re one per kilogramme, transport, packaging and retailers margin of Rs4 per kilogramme and 17 percent sales tax which is calculated at Rs12.82 per kg brings the average sales price of sugar at Rs88.24 per kg.

Govt generates Rs31 72b through GST on sugar

July 19, 2021 LAHORE: The government generated Rs31.72 billion under the head of general sales tax on sugar while the Punjab government failed to implement the price of Rs85 per kg fixed by it. According to the official data available with The News, sugar millers sold 2.474 million metric tons sugar during December 2020 to May 2021. According to the sales tax returns filed by the sugar millers to the Federal Board of Revenue (FBR), the sugar millers declared that they sold Rs 174.285 billion worth of sugar during this time while average ex-mill rate was declared at Rs70.42 per kg without adding sales tax. After adding wholesale margin and distribution cost of Re one per kilogramme, transport, packaging and retailers margin of Rs4 per kilogramme and 17 percent sales tax which is calculated at Rs12.82 per kg brings the average sales price of sugar at Rs88.24 per kg.

Govt generates Rs31 72b general sales tax on sugar

July 19, 2021 LAHORE: The government generated Rs31.72 billion under the head of general sales tax on sugar while the Punjab government failed to implement the price of Rs85 per kg fixed by it. According to the official data available with The News, sugar millers sold 2.474 million metric tons of sugar during December 2020 to May 2021. According to the sales tax returns filed by the sugar millers to the Federal Board of Revenue (FBR), the sugar millers declared that they sold Rs 174.285 billion worth of sugar during this time while average ex-mill rate was declared at Rs70.42 per kg without adding sales tax. After adding wholesale margin and distribution cost of Re one per kilogramme, transport, packaging and retailers margin of Rs4 per kilogramme and 17 percent sales tax which is calculated at Rs12.82 per kg brings the average sales price of sugar at Rs88.24 per kg.

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