MULTAN: The Customs Collectorate collected Rs1125.731 million under the head of petroleum development levy during the month of February of current Financial Year 2017-18.
According to details, Multan Customs imported 97% of High Speed Petroleum (HSD) and its by-products. The huge quantity of High Speed Diesel consignments cleared through Multan Customs through bonded pipeline of PARCO Oil Refinery located in the region of Mehmood Kot Muzaffargarh. Petroleum Development levy is a federal tax and it is collected by Multan Customs Department on the clearance of High Speed Diesel in the Collectorate.
The Collectorate of Multan Customs collected all taxes from oil marketing companies including customs duty, sales taxes, federal excise duty, income taxes, additional sales taxes, Petroleum Development Levy from oil marketing companies at the time of ex-bonding clearance from Multan Dry Port. Multan Customs generated Rs1125.731 million in February and it has earned Rs1126.167 million in the corresponding period of economic year 2016-17.
The Customs Collectorate has earned Rs10285.985 million from Petroleum Development Levy during the eight months of financial year 2017-18.While Collectorate was able collect Rs.8078.085 million in the first eight months of the matching period of economic year 2016-17. It has observed handsome rise in the collection of Petroleum Development Levy in the first eight months of the economic year 2017-18 due to increase in the import clearances of High Speed Diesel from Multan Dry Port in the on-going financial year.
