FBR revises gross sales tax on petroleum merchandise

Final week, the federal government elevated the value of petrol by Rs5. Picture: Reuters
  • FBR slashes gross sales tax on high-speed diesel to 11.64%.
  • Retains gross sales tax on petrol unchanged at 10.54%.
  • Gross sales tax on kerosene and light-diesel may even stay unchanged.

ISLAMABAD: The Federal Board of Income (FBR) on Monday revised the gross sales tax charges on petroleum merchandise.

In accordance with an SRO issued by the income board, gross sales tax on high-speed diesel has been slashed from 17% to 11.64%.

In the meantime, gross sales tax on petrol has been stored unchanged at 10.54%.

The FBR additional notified that gross sales tax on kerosene and light-diesel may even stay unchanged at 6.70% and 0.20%, respectively.

Final week, the federal government jacked up the value of petrol by Rs5 “owing to the fluctuations in petroleum costs within the worldwide market and change charge variation”.

Petrol, with a rise of Rs5, is now accessible at Rs123.30 per litre, whereas excessive pace diesel, with a rise of Rs5.01, is now accessible at Rs120.04 per litre.

As well as, the price of kerosene is Rs5.46 extra and is thus priced at Rs96.26 per litre, whereas gentle diesel oil turned Rs5.92 dearer to price Rs90.69 per litre.

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