201505.29
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Revision of Sales Tax Rate on Petroleum Products

Federal Government vide SRO383(I)/2015 dated 30.04.2015 has again revised rate of sales tax on import and local supply of petroleum products. These rates have been made effective from 01.05.2015. New rates and previous rates are as under: Sr. No. Description PCT Heading Rate of sales tax as on 30.04.2015 Rate of Sales Tax w.e.f. 01.05.2015…

201505.29
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Imposition of Regulatory Duty on Import of Petroleum Produc

by in Customs

Federal Government has imposed regulatory duty on import of petroleum products vide SRO 392(I)/2015 dated 30.04.2015. The products and applicable rates of regulatory duty are as under: Sr. # Description PCT Heading Rate of Regulatory Duty (%) 1 Petroleum Crude Oil 2709.0000 2 2 Motor Spirit Oil 2710.1210 2 3 High Speed Diesel 2710.1931 2.5

201505.29
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Difference between VAT & GST/Sales Tax

In recent weeks there is lot of discussion and debate as to what is the difference between Value Added Tax (VAT) and General Sales Tax (GST) in the context of Pakistan.  The issue has further been confused by statements emanating from the government high ups who are insisting that VAT is to be introduced w.e.f…