BIR Ruling No. 292-61
BIR Ruling No. 292-61 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 28, 1961
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July 28, 1961 BIR RULING NO. 292-61 In reply to your letter . . . I have the honor to inform you that your shipment of 30 metric tons Mild Steel Flat & Square Bars which will be used as raw materials in your blacksmith jobs for your various customers and will not be sold in their original form is subject only to the compensating tax, pursuant to Section 190 in relation to Section 186, both of the National Internal Revenue Code. This will serve as authority for the Commissioner of Customs in effecting the release of the aforesaid shipment upon the payment of the 7% compensating tax. cdasia
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