ISLAMABAD: The Federal Board of Revenue (FBR) revised upward the valuation of the compressed natural gas (CNG) up to Rs134.57 percent for the collection of sales tax.
The FBR issued SRO 39(I)/2022 and notified the values of CNG, which is applicable from January 01, 2022 to fix the value of CNG for the collection of sales tax.
In suppression of its notification No. SRO 690(I)/2019 dated June 29, 2019, the FBR notified the value of supply to the CNG consumers for the purpose of charging sales tax from CNG stations by the gas transmission and distribution companies.
The value of gas shall be: Rs134.57 for Region-I; and Rs128.11 for Region-II. The Region-I includes areas of Khyber Pakhtunkhwa, Baluchistan and Potohar Region (Rawalpindi, Islamabad and Gujar Khan. The Region-II includes Sindh and Pujnab excluding Potohar Region.
The FBR said that the notification shall take effect from January 01, 2022. Previously, the FBR issued the SRO 1464(I)/2021 dated November 15, 2021 to revise the value by amending the SRO 690(I)/2019.
Through this notification the value of CNG was enhanced to Rs134.57 from Rs74.04 and to Rs128.11 from Rs69.57 for both the regions. – TLTP