MULTAN: Collectorate of Customs collected Rs1127.987 million under the head of petroleum development levy throughout the month of December 2018.
Sources told Customs Today that Multan Customs collected petroleum development levy from oil marketing companies on the clearance of ex-bonding high speed diesel (HSD) shipments from Multan Dry Port. Petroleum development levy is levied by federal government on the oil marketing companies for clearance of high speed diesel.
The Collectorate received almost 97 percent of its revenue collection through the clearance of High Speed Diesel and other petroleum products from the PARCO oil refinery located in the area of Mehmood Kot.
The Collectorate 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 collected petroleum development levy of Rs1127.987 million from clearance of high speed diesel. On the other hand, the Collectorate had collected petroleum development levy amounting to Rs1374.025 million from the clearance of high speed diesel in the same month of prethe vious fiscal year 2017-18.
The Collectorate earned Rs.5872.278 million under the head of petroleum development levy during the six months of fiscal year 2018-19. While it made collection of Rs.7870 million as petroleum development levy in the first six months of the corresponding period of fiscal year 2017-18.
The Collectorate has observed a decline in the collection of petroleum development levy during the first six months of current fiscal year due to fewer clearances of petroleum products from jurisdiction.
