KARACHI: The Federal Board of Revenue (FBR) has increased the valuation of the compressed natural gas (CNG) up to 84 per cent for the collection of sales tax.
The revenue board notifies the value of supply to the CNG consumers for the purpose of charging sales tax from the CNG filling stations by the gas transmission and distribution companies.
To implement the increased valuation of CNG sales, the FBR issued SRO 1464 (I)/2021 dated November 15, 2021. Previously, it had issued the valuation of CNG through SRO 690 (I)/2019. The FBR enhanced the valuation of CNG by 84.45 per cent to Rs128.11/kg from Rs69.57/kg for Region -II.
Similarly, the CNG valuation has been increased by 82 per cent to Rs134.57/kg from Rs74.04/kg for Region-II. According to the FBR, the Region-I includes Khyber-Pakhtunkhwa, Balochistan and the Potohar Region (Rawalpindi, Islamabad and Gujar Khan). Likewise, Region-II includes Sindh and Punjab, excluding the Potohar Region. – TLTP