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The Federal Board of Revenue has excluded all kinds of petroleum products whether imported or produced locally from the purview of zero-rated export to Afghanistan or to Central Asian Republics (CARs) via Afghanistan. The FBR has issued SRO.136 (I) /2012 in this regard here on Tuesday.
Through the notification, in pursuance of the Economic Co-ordination Committee of the Cabinet, SRO190(I)/2002, dated April 2, 2002 has been amended to exclude petroleum products whether imported or produced locally (except when there is a Government to Government contract through oil marketing companies only) from the purview of zero-rating on export to Afghanistan and through Afghanistan to CARs.
According to another SRO137(I)/2012, the FBR has restricted rebate of Federal Excise Duty on export of all petroleum products whether imported or produced locally (except when there is a Government to Government contract done through oil marketing companies only) when exported to Afghanistan and through Afghanistan to Central Asian Republics.
Following is the text of the S.R.O. 136(I)/2012 issued here on Tuesday: .- In exercise of the powers conferred by clause (iii) of the first proviso to section 4 of the Sales Tax Act, 1990, the Federal Government is pleased to direct that the following amendments shall be made in its Notification No S.R.O. 190(I)/2002, dated the April 2, 2002, namely:
In the aforesaid Notification, in clause (d),
(a) in sub-clause (vi), the word ?and? shall be omitted; and
(b) in sub-clause (vii), for the full stop, at the end, a semicolon and word ?; and? shall be substituted and thereafter the following shall be added, namely:-
?(c) all petroleum products whether imported or produced locally (unless there is a Government to Government contract done through oil marketing companies only), the FBR added.

Copyright Business Recorder, 2012

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