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Highlights
Cigarettes will be charged to duty on following rates:
Locally produced cigarettes if their retail price exceeds fifteen rupees per ten cigarettes. |
Duty @ Sixty three per cent of retail price |
Locally produced cigarettes if their retail price exceeds six rupees and fifty seven paisas per ten cigarettes but does not exceed fifteen rupees per ten cigarettes. |
Duty @ Two rupees and eighty paisas per ten cigarettes plus sixty nine per cent per incremental rupee or part thereof |
Locally produced cigarettes if their retail price does not exceed six rupees and fifty seven paisas per ten cigarettes |
Duty @ Two rupees and eighty paisas per ten cigarettes. |
Duty on motor spirit, aviation spirit, spirit type jet fuel, JP1 and other jet fuels and on Petroleum bitumen (Bitumen and Asphalt) including bituminous mixtures have been proposed to be abolished.
The bill proposes to impose condition for reduced rate of 2% on lubricating oil manufactured from reclaimed oils or sludge or sediment that if it will be sold in retail packing or under brand names the words manufactured from reclaimed oil or sludge or sediment must be clearly printed on the back.
The bill proposes to levy 5% duty on amount of charges or non-fund services provided by banking companies or NBFCs.
It has been proposed to abolish the duty on Service provided or rendered by a foreign exchange broker including any authorized dealer of foreign exchange to a customer and that provided by cable TV operators. It has been also proposed by a notification (S.R.O. 467(I)/2007) that the services provided cable TV operators for period July 1, 2006 to June 30, 2007 be exempt from levy of the duty.
Conditional exemption from duty granted to non-aerated beverages concentrates have been proposed to be withdrawn.
The bill proposes to allow exemption from duty to Life Insurance and Health Insurance. |
Mr. Gohar Manzoor
