Sales tax on motor spirit reduced

ISLAMABAD: The Federal Board of Income (FBR) has diminished gross sales tax on motor spirit from 17 p.c to 16.40 p.c from July 6, 2021. The FBR has amended SRO 57(I)/2016 (gross sales tax on petroleum merchandise) thru a notification SRO 860(I)/2021, issued on Tuesday. Consistent with the notification, the gross sales tax on kerosene oil would stay at 6.70 p.c.

Gross sales tax on gentle diesel oil would proceed to be charged at 0.20 p.c. The notification mentioned that the usual charge of 17 p.c will stay the similar for high-speed diesel oil for this month.

Copyright Trade Recorder, 2021

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