Reduced rate of GST on petrol abolished

ISLAMABAD: The Federal Board of Revenue (FBR) has abolished the reduced rate of 1.43 percent sales tax on petrol from December 7, 2021. According to a notification issued by the FBR Tuesday, the sales tax rate on petrol was 1.43 percent in November 2021. It has been reduced to zero percent from December 7.

POL products’ prices remain unchanged: Rate of PL on ex-depot sale of petrol, HSD increased

However, the sales tax rate on high-speed diesel oil (HSD) has been increased from 6.75 percent to 7.20 percent. Sales tax on kerosene has been increased from 6.70 percent to 8.19 percent while sales tax on light diesel oil has been increased from 0.20 percent to 0.46 percent.

Copyright Business Recorder, 2021