LAHORE: Lahore High Court (LHC) has extended the date of stay order till July 12 in case of imposition of development levy on Liquefied Petroleum Gas (LPG).
Justice Sajid Mehmood Sethi heard the case. During the proceedings the federal government has submitted reply of notice issued by the LHC.
In the reply, government counsel argued before the court that government has equalized the tax on imported and local Liquefied Petroleum Gas (LPG). Government has been collecting Rs4679 million as levy on LPG.
Government is also collecting 17 percent sales tax on local LPG and 10 percent sales tax on imported LPG, but development levy tax is not collected on imported LPG.
On the other side, the counsel for appellant argued that government should impose petroleum development levy tax on imported LPG because after the imposition of petroleum development levy tax, the prices of local and imported LPG will be equal and favorable for businessmen and government as well. He prayed the court to order government for equal percentage of levy tax on both local and imported LPG.
After hearing the arguments, court has extended the date of stay order and also ordered counsel for government to submit all relevant documents before the court.
