In order to provide relief to the public, the Federal government has lowered the sales tax rate on Petrol.
The government has reduced the sales tax rate by 5.63 percent effective from July 16, 2021, according to FBR.
Resultantly, the sales tax rate on Petrol stands at 10.77 percent from the previous rate of 16.40 percent.
The FBR notice states that sales tax rates for high-speed diesel, kerosene, and light diesel fuel remained unchanged at 17%, 6.70%, and 0.20%, respectively.
The government has taken the step to lower the Petrol price in the country. Higher petrol prices have an impact on the economic consumption of the country and also hampers mobility.
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