The Federal Board of Revenue (FBR) has increased sales tax from 18 to 20 percent on motor spirit excluding HOBC and 32 to 34 percent on high speed diesel from May 1, 2015. The FBR has amended SRO 175(I)/2015 dated February 27, 2015 through an. SRO383(I)/2015. Following is the text of the SRO issued here on Friday: SRO. 383(I)/2015.
In exercise of the powers conferred by clause (b) of sub-section (2) of section 3 of the Sales Tax Act, 1990 and in supersession of its Notification No. SRO 175(I)/2015 dated the 27th February 2015, the Federal Government is pleased to direct that sales tax shall be charged on import and supplies of the goods specified in column (2) of the table below at the rates specified in column (4) thereof, namely:- Motor spirit excluding HOBC, PCT heading 2710.1210, rate 20 percent ad valorem high speed diesel oil, PCT heading 2710.1931, rate 34 percent ad valorem This notification shall take effect from 1st May, 2015, it added.
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