ISLAMABAD: The Model Customs Collectorate Gilgit-Baltistan (GB) assigned a revenue target of Rs69.2million to the collectorate for the month of January of Financial Year (FY) 2016-17 under the head of all duty taxes.
According to details told by sources of Gilgit-Baltistan, the collectorate has already surpassed the revenue target during previous month of November-December, although the GB is closed from current month due to heavy snowfall that is why rare consignments arrived in the area.
Sources added that for the month of January FY2016-17, the GB has assigned the target of Rs.34 million to the department concerned under the head of Customs Duty (CD) and another target of Rs 27.2 million has been assigned to the collectorate under the head of Sales Tax (ST). Sources further told Customs Today that the Federal Board of Revenue has assigned the collection target of Rs 08 million to the GB collectorate under the head of the Withholding Tax for the above said period.
Sources added that the Federal Board of Revenue had assigned the revenue target amounting to Rs.102 million to the collectorate under the head of the Customs Duty (CD) for month of December FY16-17. The assigned target of Customs Duty was Rs.102 for month of November, the assigned target for month of October was Rs.102 million, the assigned CD target for month of September was Rs.77 million, the assigned CD target for month of August was Rs.102 million and the target of Customs Duty (CD) for month of July FY2016-17 was Rs.102 million.
Sources said the Federal Board of Revenue had assigned the target for revenue collection to the GB collectorate under the head of the Sales Tax (ST) amounting to Rs.81.5 million for the month of December FY2016-17. For the month of November, the GB collectorate had been assigned the Sales Tax target (ST) amounting to Rs.81.5 million whereas the assigned target of Sales Tax (ST) for the month of October was Rs.81.5 million. For the month of September, Rs.61.1 million Sale Tax( ST) had been set while Rs.81.5 million target had been given for August and the same figure for revenue collection under head of Sales Tax (ST) was Rs.81.5 million for the month of July FY2016-17.
Sources further said the GB was assigned the Withholding Tax collection for month of December FY 2016-17 which was Rs.28 million whereas the assigned target of the Withholding Tax for month of November was Rs.41 million, the target of the Withholding Tax for month of October was Rs.35 million, the target of the Withholding Tax for month of September was Rs.25 million, the target of the Withholding Tax for month of August was Rs.33 million and the Withholding Tax target for July FY16-17 was Rs.34 million.
