GST on petroleum products reduced


The Federal Board of Revenue (FBR) has reduced sales tax on all petroleum products, including motor spirit on which sales tax has been brought down from Rs 12.89 per litre to Rs 9.89 per litre from May 1, 2016.

The FBR has issued SRO.369(I)/2016 here on Friday to be effective from May 1, 2016. Under the SRO, the sales tax on Motor spirit has been fixed at Rs 9.89 per litre as compared to previous rate of Rs 12.89 per litre, reflecting a decrease of Rs 3 per litre.

According to the SRO, the sales tax on HOBC has been fixed at Rs 10.65 per litre as compared to previous rate of Rs 13.90 per litre. Sales tax on Kerosene has been fixed at Rs 3.60 per litre against Rs 4.76 per litre. Sales tax on High speed diesel oil has been decreased from Rs 29.57 per litre to Rs 25.16 per litre. Through this SRO, the sales tax on Light diesel oil has been fixed at Rs 3.38 per litre as compared to last month rate of Rs 4.72 per litre.

Source: Business Recorder 

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