The Petroleum Development Levy (PDL), that’s applicable to petroleum products, is going to be recorded by the Federal Board of Revenue (FBR).The FBR doesn’t collect the PDL, although it requires an additional sales tax on invoice for petrol pumps to maintain current records of the Petroleum Development Levy (PDL).
To outline the Domestic Sales Invoice (DSI) of petroleum products for the collection of the data for the PDL, the FBR modified the Sales Tax Rules, 2006, and involved a new Annex-L.
The Sales Tax Rules, 2006 currently provide a list items for which the FBR can use to gather production data from different sectors. Petroleum dealers will provide the new Annex-L collectively with the monthly sales tax refund form. In this context, the Domestic Sales Invoice (DSI) for petroleum products for the PDL has been established by the FBR.
Data about the buyers of POL products, sales type/quantity, sales value, PDL per letter rate, and PDL due quantity were all part of the data. The HS code of petroleum product sales must be utilized to automatically obtain the date of sales through Annex-C for the purpose to identify the payable PDL. The government-notified per-liter taxes for the time limit specified must be utilized for calculating the PDL.