GILGIT-BALTISTAN: The Customs Collectorate of Gilgit-Baltistan received more than Rs200million revenue against an allocated revenue collection target of all duties and taxes during five months and 12 days of FinancialYear 2017-18.
According to details given by Akbar Jan, Deputy Collector Model Customs Collectorate of Gilgit-Baltistan (GB), while talking with Customs Today during an exclusive interview that, during five months and first 12 days of December Fiscal Year (FY) 2017-18, the collectorate showed satisfactory performance. During above said period, the collectorate generated Rs2301.93million of revenue under the head of all duties and taxes whereas it was assigned an proportional revenue target of Rs2124.22million. The GB earned Rs2011.51million under the same head during the same period of corresponding FY16-17.
Akbar Jan informed CT that the GB showed 8.37% growth against an assigned proportional revenue target while it demonstrated 14.44% growth against the revenue collection during the same period of previous of FY16-17. The Deputy Collector told correspondent that the GB received Rs205.99million under all the heads against an earmarked proportional revenue target of Rs133.99million. The GB collected Rs72.00million extra revenue under the head of all taxes during 12 days of December FY17-18. The GB posted 53.74% increase against an allocated proportional revenue target during first 12 days of December FY17-18 while it showed 11.27% growth against the revenue collection of the same period of corresponding FY16-17 under the same head.
He notified the correspondent that the Customs Collectorate of GB got Rs78.11million of Customs Duty (CD) during 12 days of December FY17-18 against an earmarked revenue target of Rs65.59million. The GB generated extra revenue of Rs12.52million as Customs Duty during said period. The GB displayed 19.10% growth against an assigned proportional revenue target of 1st to 12th December FY17-18 whereas it did 10.52% growth against a revenue collection during the same period of previous FY16-17 as Customs Duty.
Jan believed that the GB received Rs92.47million as Sales Tax (ST) against an allocated proportional revenue target of Rs44.89million. Deputy Collector added that the collectorate got Rs47.58million of extra revenue during above said period. The collectorate displayed 106.00% increase against an assigned proportional revenue target under the head of Sales Tax while the GB did Rs31.57% growth during 12 days of December FY17-18 against the revenue collection of the same period of corresponding FY16-17.
Regarding the surplus revenue collection under the head of With Holding Tax (WHT), Deputy Collector further told CT that, during first 12 days of December FY17-18, the collectorate collected Rs35.41million as With Holding Tax against a revenue collection of Rs23.52million of WHT. Deputy Collector said that the GB generated Rs12.00million more revenue than the assigned target of With Holding Tax. The sources informed Customs Today that the GB earned 50.58% increase of WHT against an assigned revenue target under the head of WHT against the assigned target.
