The National Board of Revenue has exempted聽value added tax on several essential items to keep commodity prices stable聽during the holy month of Ramadan.
To this end, the revenue authority issued an order on Monday.
According to the order, VAT exemptions will be applicable for rapeseed oil, colza聽seed oil and canola oil at the production stage until June 30. However, VAT聽will also be exempt on mustard oil at the production stage, with no specific聽deadline mentioned in the order.
Additionally, VAT has been exempted at the business stage for domestically聽produced items, including biscuits, salt, flour, semolina, ground chilli,聽coriander, turmeric, ginger, rice bran oil, sunflower oil, rapeseed oil,聽colza seed oil, canola oil聽 and pulses or pulse-based food grains.
Under specific conditions, VAT is also being waived for LPG and natural gas聽at the business stage.
However, those who import and sell directly to consumers will not be eligible聽for the VAT exemption.
To avail of the VAT exemption on these products, certain conditions must be聽met. These include VAT registration, issuance of invoices, maintenance of all聽types of registers and submission of monthly VAT returns.
