The National Board of Revenue (NBR) has suddenly announced VAT exemption for several products. The products on this list include biscuits, salt, mustard oil, flour, mealie meal, LP gas, etc. Some products are exempted at the production stage and some at the trader stage.

Today, the National Board of Revenue (NBR) issued an order in this regard.

According to the notification, rapeseed oil, colza seed oil, canola oil will be exempted from VAT at the production stage until June 30, 2025. Mustard oil will also be exempted from VAT at the production stage, which has no time limit.

Apart from this, the products produced in the country that have been exempted from VAT at the trader stage are biscuits, salt, flour, mealie meal, semolina, chili powder, coriander, turmeric, ginger, rice bran oil, sunflower oil, rapeseed oil, colza seed oil, canola oil, pulses or pulse-like food grains.

LP gas and natural gas are also exempted from VAT at the business level, subject to conditions. Those who import and sell to consumers themselves will not get the benefit of VAT exemption.

To get the benefit of VAT exemption on these products, some rules and regulations have to be followed. Such as VAT registration, issuance of invoices, maintenance of all types of registers, filing of monthly VAT returns, etc.