The Federal Board of Revenue (FBR) has reduced sales tax from 20 to 19.5 percent on motor spirit from June 1, 2017. In this regard, the FBR has issued a notification here on Wednesday. According to the notification, sales tax on High speed diesel oil has been increased from 33.5 percent to 34.5 percent.
Sales tax on Kerosene would remain zero percent in June 2017. Sales tax on Light diesel oil would remain zero percent in June 2017. Following is the text of the S.R.O. 408(1)/2017 issued here on Wednesday:.- In exercise of the powers conferred by clause (b) of subsection (2) and sub-section (6) of section 3 of the Sales Tax Act, 1990, the Federal Government is pleased to direct that the following further amendment shall be made from the 1st June, 2017, in its Notification No S.R.O. 57(1)/2016, dated the 29th January, 2016, namely:- In the aforesaid Notification, for the existing Table, the following shall be substituted, namely:-
========================================================================
S.No Description PCT heading Rate
========================================================================
(1) (2) (3) (4)
========================================================================
1. Motor spirit excluding HOBC 2710.1210 19.5% ad valorem
2. High speed diesel oil 2710.1931 34.5% ad valorem
3. Kerosene 2710.1911 0% ad valorem
4. Light diesel oil 2710.1921 0% ad valorem
========================================================================
Comments
Comments are closed.