Home »Fuel and Energy » Pakistan » GST on motor spirit lowered to 21 percent

  • News Desk
  • Jan 1st, 2016
  • Comments Off on GST on motor spirit lowered to 21 percent
The Federal Board of Revenue (FBR) has decreased sales tax from 24 percent to 21 percent on motor spirit from January 1, 2016. The FBR has issued SRO.1326(I)/2015 here on Thursday. The notification has amended SRO 383(I)/2015 dated 30th April 2015 for revising Sales Tax rates on petroleum products. Sales tax has been increased from 45.5 percent to 51 percent on High speed diesel oil.

According to the SRO, the rate of sales tax on HOBC has been increased from 16.5 percent to 23.5 percent. Through this SRO, the rate of sales tax on light diesel oil would also remain unchanged at 24 percent. The rate of sales tax on HOBC has been increased from 16.5 percent to 23.5 percent. Sales tax on kerosene would remain unchanged at 22 percent.

Following is the text of the SRO.1326(1)/2015 issued here on Thursday:- In exercise of the powers conferred by clause (b) of sub-section (2) of section 3 of the Sales Tax Act, 1990, the Federal Government is pleased to direct that the following further amendment shall be made in its Notification No SRO.1326(1)/2015, dated the 30th April, 2015, namely:-

In the aforesaid notification, for the existing Table, the following shall be substituted, namely-This notification shall take effect on and from the 1st January, 2016.



TABLE



==================================================================

S.No Description PCT heading Rate

==================================================================

(1) (2) (3) (4)

==================================================================

1. Motor spirit excluding HOBC 2710.1210 21% ad valorem

2. HOBC 2710.1210 23.5% ad valorem

3. Kerosene 2710.1911 22% ad valorem

4. High speed diesel oil 2710.1931 51% ad valorem

5. Light diesel oil 2710.1921 24% ad valorem

==================================================================



Copyright Business Recorder, 2016


the author

Top
Close
Close