Summary The ministry has revised GST on diesel with five percent downward revision
ISLAMABAD (Dunya News) – General Sales Tax (GST) on kerosene oil and light speed diesel has been waived for the first time ever on Sunday.
According to the notification issued, sales tax on petrol that is 14.5 percent has been maintained while that on kerosene oil and light speed diesel has been waived.
The ministry has revised GST on diesel with five percent downward revision stagnating it at 25.5 percent. Moreover, Ministry of Finance has estimated around Rs 4 billion tax deficit in January.
Earlier today it was reported that the government has maintained prices of petroleum products for the month of January.
Finance Minister Ishaq Dar said that Ministry of Petroleum & Natural Resources and the Oil and Gas Regulatory Authority (OGRA) recommended an increase in prices from January 1st 2017.
According to the statement, 0.5 percent hike was recommended for petrol, 5.2 percent for high speed diesel, 16 percent for kerosene oil and 8 percent for light speed diesel.
