Govt Increases Sales Tax On Petroleum Products

(@mahnoorsheikh03)

Govt increases sales tax on petroleum products

With the decision, 17 per cent sales tax will be collected on petrol, diesel, light diesel and kerosene oil.

Islamabad (UrduPoint / Pakistan Point News – 1st January, 2019) The Federal government has increased the sales tax imposed on petroleum products.

According to details, the government has taken the step to cope up with the current account deficit. The government increased the sales tax to increase its revenue.

With the decision, 17 per cent sales tax will be collected on petrol, diesel, light diesel and kerosene oil.

The government increased the sales tax on petrol by 9 per cent following which the price of petrol will but cut by Rs 4.86 contrary to Rs 9 announced yesterday.

Similarly, the sales tax on diesel has been increased by 4 per cent and on light diesel by 16 per cent.

The sales tax on Kerosene oil has been increased by 17 per cent.

The government announced Monday cut in price of petrol for the month of January 2019 by Rs 4.86 per litre while that of High Speed Diesel by Rs 4.26.

The price of Kerosene oil has also been reduced by Rs 0.52 and that of Light Diesel Oil (LDO) by Rs 2.16 per litre, a finance ministry statement said.

The new price of Ms 92 RON (petrol) to be applicable for the month of January would be Rs 90.97, while that of HSD would be Rs 106.68 per litre.

Similarly, the new price of kerosene oil and LDO would be Rs 82.98 and Rs 75.28 per litre respectively.

Your Thoughts and Comments