Ghee, oil prices to rise from July 1

Ghee and oil is set to become more expensive following budgetary taxation measures made by the government through the finance bill.

According to details, prices will jump from Rs13 to Rs18 per kilogramme/litre, depending on their respective retail prices in the market, from July 1.

Currently, the government has been charging Rs90 per kg/litre tax on ghee and cooking oil which is the highest in the region.

Furthermore, an additional sales tax of 3 per cent has also been imposed on the sale of ghee and cooking oil to unregistered buyers, wholesalers and retailers. There would be 0.1 and 0.5pc withholding tax, while input sales tax adjustment of up to 90pc has been allowed.