ISLAMABAD: The Customs Islamabad Dry Port collected Rs233.92million surplus revenue under all the heads during 1st July to 23rd of October Financial Year 2017-18 against the assigned revenue target under all the heads. The revenue collection target must be revised downwards due to imposition of Regulatory Duty on Imports.
This was said by Tahir Iqbal Khattak, Deputy Collector Islamabad Dry Port (IDP), while talking to Customs Today.
He said the IDP received Rs2223.12million under all the heads during three months and initial 23 days of October FY17-18 whereas it was allocated Rs1989.12million under all the heads. During said period, the IDP generated 11.76% of increase against the earmarked revenue target during above said period.
Khattak said the IDP earned Rs919.844million of Customs Duty during the 1st of July to 23rd of October FY17-18 against the assigned revenue target of Rs968.205million under the same head while it did Rs946.205million during the same period of FY16-17 as CD.
Deputy Collector told CT that, during the 1st of July to 23rd of October FY17-18, the IDP generated Rs773.602million against the allocated revenue target of Rs553.180million whereas it did Rs186.113million as Federal Excise Duty (FED) during the 1st of July to 23rd of October FY17-18 against the earmarked target of Rs85.113million of FED.
During the 1st of July to 23rd of October FY17-18, the IDP got Rs343.563million as Withholding Tax (WHT) while it was assigned revenue target of Rs378.310million of WHT. A little difference has been recorded during the 1st of July to 23rd of October FY17-18 in the WHT and FED and in the collection of CD which will be met during the rest of the days of current month of October FY2017-18.
