ISLAMABAD (November 09 2003): The Central Board of Revenue (CBR) has given rebate of central excise duty (CED) on export of lubricating oil used in petrol and diesel automobiles from November 6, 2003, says a notification issued on Saturday.
The CBR has used powers conferred under Central Excise Rules 1944 to grant rebate of CED on base oil used in the manufacture of lubricating oil to be exported.
The rate of CED rebate would be 11.60 percent of the f o b value or Rs 5.65 per litre, whichever is less, on the export of motor lubricating oil 20W-50 for petrol automobiles; 7.50 percent of the f o b value or Rs 5.51 per litre, whichever is less, on motor lubricating oil 20W-50 for diesel automobiles; and 9.36 percent of the fob value or Rs 5.37 per litre, whichever is less, on the export of all types of marine lubricating oil.
The CBR has directed that the manufacturers-cum-exporters of lubricating oil will have to submit proof of payment of excise duty pertaining to each consignment.
