ISLAMABAD: The Federal Board of Revenue (FBR) has upward revised the value of supply of the compressed natural gas (CNG) to the CNG consumers for the purpose of charging sales tax from the CNG stations.
Now, the FBR will charge 18 percent sales tax on the basis of value of Rs 200 per kg on supply of the CNG to the CNG stations.
The FBR has issued SRO 581(I)/2024 to supersede SRO 587(I)/2022 here on Thursday.
Through this SRO, the incidence of sales tax has been increased on the supply of the CNG to the CNG stations. The FBR has increased the value of supply to the CNG consumers for the purpose of charging of sales tax from CNG stations by the gas transmission and distribution companies.
The value of supply of the CNG has been increased from Rs 140 per kg to Rs 200 per kg for Region-I covering Khyber Pakhtunkhwa, Balochistan, and Potohar Region (Rawalpindi, Islamabad, and Gujar Khan).
The value of supply of the CNG has also been increased from Rs135 per kg to Rs 200 per kg for Region-II covering the areas of Sindh and Punjab excluding the Potohar Region.
Copyright Business Recorder, 2024
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