Fuel Rebate Rates Fuel tax credit rates You need to use the rate that applies on the date you acquired the fuel Use the fuel tax credit calculator to easily work out the amount to report on your business activity statement BAS
The new rates which take effect from August 1 2024 were approved by Prime Minister Shehbaz Sharif according to a notification from the Ministry of Finance Petrol prices have been cut by Rs6 17 per litre bringing the new price to Rs269 43 High speed diesel has also seen a decrease with its price reduced by Rs10 86 to Rs272 77 This price cut follows a decline in international oil prices with petrol prices falling from 89 50 to 87 50 per barrel and HSD prices dropping from 96 93 to 94 per barrel over the past two weeks The import premium on both petrol and diesel has also decreased enabling the government to pass on these savings to consumers
Fuel Rebate Rates
Fuel Rebate Rates
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ISLAMABAD Pakistan s federal government announced a significant reduction in fuel prices effective August 1 The price of petrol will decrease by Rs6 17 per litre bringing it down to Rs269 43 This adjustment follows a recent drop in global oil prices and aims to ease the financial burden on consumers amid fluctuating international rates The price of petrol may drop by Rs5 50 per litre while high speed diesel HSD could see a reduction of up to Rs11 per litre Kerosene is anticipated to become cheaper by Rs5 84 per litre and
Fuel tax credit rates are indexed twice a year in February and August in line with the consumer price index CPI The CPI indexation factor for rates from 5 August 2024 is 1 020 Fuel excise duty was temporarily reduced from 30 March 2022 to 28 September 2022 For the amount between Rs50 000 and Rs100 000 the FBR would charge fixed rate of Rs10 000 from registered persons If the retailers will not exist on ATL the fixed tax rate would be doubled and fixed tax rate of Rs20 000 would be charged
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Fuel tax credit rates You need to use the rate that applies on the date you acquired the fuel Table 1 1 February 2023 to 30 June 2023 Table 2 29 September 2022 to 31 January 2023 Table 3 1 August 2022 to 28 September 2022 Table 4 1 July 2022 to 31 July 2022 1 Check if you re eligible for fuel tax credits Businesses can claim credits for the fuel tax excise or customs duty included in the price of fuel used in their business activities You can claim for taxable fuel that you purchase manufacture or import Just make sure it s used in your business Taxable fuels include liquid fuels fuel blends
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Fuel tax credit rates You need to use the rate that applies on the date you acquired the fuel Use the fuel tax credit calculator to easily work out the amount to report on your business activity statement BAS
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The new rates which take effect from August 1 2024 were approved by Prime Minister Shehbaz Sharif according to a notification from the Ministry of Finance Petrol prices have been cut by Rs6 17 per litre bringing the new price to Rs269 43 High speed diesel has also seen a decrease with its price reduced by Rs10 86 to Rs272 77
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Fuel Rebate Rates - Fuel tax credit rates are indexed twice a year in February and August in line with the consumer price index CPI The CPI indexation factor for rates from 5 August 2024 is 1 020 Fuel excise duty was temporarily reduced from 30 March 2022 to 28 September 2022
