Exclusion of fuel price increases from VAT base requires benefit to be passed to consumers before tax reduction takes effect. The Amendment excludes from the taxable sale price any increase in petrol and diesel prices (including Central duties and levies) taking effect from 6 June 2006, for sales on or after commencement, until the Government notifies otherwise; the exclusion does not take effect until the benefit is passed on to the consumer. The Act is deemed to have commenced on 20 June 2006 and repeals the prior Amendment Ordinance while saving actions taken under that Ordinance.
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Provisions expressly mentioned in the judgment/order text.
Exclusion of fuel price increases from VAT base requires benefit to be passed to consumers before tax reduction takes effect.
The Amendment excludes from the taxable sale price any increase in petrol and diesel prices (including Central duties and levies) taking effect from 6 June 2006, for sales on or after commencement, until the Government notifies otherwise; the exclusion does not take effect until the benefit is passed on to the consumer. The Act is deemed to have commenced on 20 June 2006 and repeals the prior Amendment Ordinance while saving actions taken under that Ordinance.
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