LAHORE: The Punjab Excise and Taxation Department has recovered Rs 220 million excise duty up to September 28 which is 18 percent extra than the same period of the last year.
According to financial data available to Customs Today, the department received Rs 220 million excise duty during the first three months of the fiscal year 2015-16 which is 18 percent higher than the same period of the last year. During the previous fiscal year the excise department was able to recover Rs 198 million during the first three months of FY 2014-15.
For budget 2015-16, the Punjab government has set a target of Rs 2.8 billion and Rs 220 million recovered which is 12 percent extra till now.
Large share of excise duty recovered from four star hotels of Lahore, Multan, Faisalabad and Rawalpindi.
According to excise officials share of excise levy always increase during Eid days and New Year. On Eidul Azha excise duty recovered by the department on sale of alcohol reached up to 20 million in three days only.
Excise Punjab is a big source of income for government of Punjab. Excise is expected to facilitate almost 25 billion rupees to the provincial government. Punjab generates only about twenty percent of its revenues and the rest of its budget is shared from a pool of federal taxes.
Excise duty imposed on sale of alcohol by selected hotels in Punjab and permit holders. Large share of excise duty is obtained from import, export of intoxicants, manufacturing and sale of liquor in different hotels. Pearl Continental, Avari Hotel, Hospitality inn and Flatties are big sources of income for Punjab Excise.
