KARACHI: The Federal Board of Revenue (FBR) has reduced the sales tax on petrol by Rs 1.59/liter as the petrol dealers will pay Rs 12.89 per litre sales tax on petrol from this month.
Similarly, the FBR announced Rs 4.67/liter reduction on High Octane Blending Content (HOBC) which translates in to Rs Rs 13.90 sales tax on per liter HOBC while it was Rs 18.57 before this revision.
The FBR through SRO 268(I)/2016 announced that the government has decided to facilitate the petroleum dealers by slashing sales sax on different petroleum products from April 2016.
According to the SRO 268(I)/2016, the new sales tax rates applicable from 1st of April 2016 are Rs 12.89 per litre on petrol, Rs 13.90 on HOBC, Rs 4.76 per litre on kerosene Rs. 29.57 per litre on high speed diesel and Rs 4.72 light diesel oil.
Earlier, the sales tax on different petroleum products were Rs 14.48 per litre on petrol, Rs 18.57 on HOBC, Rs 10.40 per litre on kerosene Rs 29.57 per litre on high speed diesel and Rs 9.63 per liter on light diesel oil.
By this reduction, the government has given of Rs 1.59 per litre benefit to dealers on sales of petrol Rs 4.67 per litre benefit on sales of HOBC, Rs 5.64 per litre on Kerosene and Rs 4.91 on sales of light diesel oil while the sales tax rate on High Speed Diesel Oil has been kept unchanged at Rs29.57 per liter.
