7.5 percent VAT exemption on LP gas

  • Staff Correspondent, Barta24.com
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VAT exemption on LP gas/Photo: Collected

VAT exemption on LP gas/Photo: Collected

Dhaka: The National Board of Revenue (NBR) has issued a special order exempting an additional 7.5 percent VAT at the production stage of liquefied petroleum gas (LPG).

The NBR issued an order in this regard on Monday (January 13).

বিজ্ঞাপন

The order states that LP gas is currently being used as cooking fuel in homes, vehicle fuel at autogas stations and as fuel in various industrial establishments. In addition, due to the current shortage of natural gas supplied by gas distribution companies, the demand for LP gas in various types of industrial factories including garments is constantly increasing.

In this situation, in order to make the production and use of LP gas easily available, the National Board of Revenue has exempted LP gas from additional 7.5 percent VAT at the production stage under the powers conferred by sub-section (3) of section 126 of the Value Added Tax and Supplementary Duty Act, 2012 (Act No. 47 of 2012).

বিজ্ঞাপন

The NBR also said that this order will be deemed to have come into effect from January 9.