It is tax on Expenditure.

Employer expand some expenses on welfare to the staff then 
government charge taxes on these expenses from the employer
firs value has been calculated on the expenses bearer by 
the employee. rate are 5%, 20%, 50% applicable according to 
nature of expenses
after calculating the value of fbt

now rate has been charged on value of fbt, the rate is 30% 
plus 2% education cess and 1% secondary & higher education 
cess 
total rate is 33.90%

Fringe benefit tax means  As the From No-280 FBT means tax 
can be given by the employe welfare & empoly benifit tax 
can be paid by govermant

Fringe Benefit Tax means tax payable by the employer 
certain Fringe benefit have been provided by the employee.