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Wednesday October 27, 2021

FBR slashes sales tax on high-speed diesel

Sales tax on petrol has been kept unchanged at 10.54%

By Web Desk
September 20, 2021
Sales tax on kerosene and light-diesel will also remain unchanged at 6.70% and 0.20%, respectively, says FBR.
Sales tax on kerosene and light-diesel will also remain unchanged at 6.70% and 0.20%, respectively, says FBR.

ISLAMABAD: The Federal Board of Revenue (FBR) Monday reduced sales tax on high-speed diesel from 17% to 11.64%.

Almost a week after the government had increased the price of petrol by Rs5 per litre, the FBR revised the sales tax rates on petroleum products today.

According to the statutory regulatory order (SRO) issued by the FBR, sales tax on petrol has been kept unchanged at 10.54%.

The FBR further notified that sales tax on kerosene and light-diesel will also remain unchanged at 6.70% and 0.20%, respectively.

Last week, the government had jacked up the price of petrol by Rs5 "owing to the fluctuations in petroleum prices in the international market and exchange rate variation".

Petrol, with an increase of Rs5, is now available at Rs123.30 per litre, whereas high speed diesel, with an increase of Rs5.01, is now available at Rs120.04 per litre.

In addition, the cost of kerosene is increased by Rs5.46 and is thus priced at Rs96.26 per litre, while light diesel oil became Rs5.92 dearer to cost Rs90.69 per litre.