{"id":1645,"date":"2022-02-11T10:29:13","date_gmt":"2022-02-11T10:29:13","guid":{"rendered":"https:\/\/www.newsmakers.com.pk\/en\/?p=1645"},"modified":"2022-02-11T10:29:16","modified_gmt":"2022-02-11T10:29:16","slug":"fbr-reduce-gst-on-petroleum-products","status":"publish","type":"post","link":"https:\/\/www.newsmakers.com.pk\/en\/business\/fbr-reduce-gst-on-petroleum-products\/1645\/","title":{"rendered":"FBR Reduce GST On Petroleum Products"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Web Desk &#8212; The Federal Board of Revenue has announced a lower rate of general sales tax on petroleum products to maintain competitive prices for consumers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a sales tax SRO 183(I) of 2022 released on Thursday, the lowest GST rates were notified to pass the minimum increase onto consumers. GST is charged at a standard rate of 17 percent.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In accordance with clause (b) of sub-section (2) of section 3 of the Sales Tax Act, 1990, the federal government is pleased to direct that the following further amendments be made [by] Jan 16, 2022, in its notification no. SRO 57(I)\/2016, dated Jan 29, 2016,\u201d the notification said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">GST rates have been lowered to 0.79 percent on petrol, 3.17 percent on high-speed diesel (HSD), 5.30 percent on kerosene, and 0 percent on light diesel oil (LDO).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Previous rates were 2.5pc on petrol, 5.44pc on HSD, 8.30pc on kerosene, and 2.7pc on LDO.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Due to inflationary pressures, the government delayed the implementation of an additional petroleum tax for a fortnight on Jan 31, keeping ex-depot prices of petroleum products unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Web Desk &#8212; The Federal Board of Revenue has announced a lower rate of general sales tax on petroleum products to maintain competitive prices for consumers. According to a sales tax SRO 183(I) of 2022 released on Thursday, the lowest GST rates were notified to pass the minimum increase onto consumers. GST is charged at &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1645","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR Reduce GST On Petroleum Products<\/title>\n<meta name=\"description\" content=\"GST rates lowered to 0.79% on petrol, 3.17% on high-speed diesel (HSD), 5.30% on kerosene, and 0 percent on light diesel oil (LDO).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.newsmakers.com.pk\/en\/business\/fbr-reduce-gst-on-petroleum-products\/1645\/\" \/>\n<meta property=\"og:locale\" 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