ISLAMABAD: The Model Customs Collectorate Islamabad surpassed its assigned revenue target for 2nd Quarter (October to December) Financial Year 2017-18 in one month and three weeks (October to 21st November) under the head of Sales Tax.
The Federal Board of Revenue (FBR) allocated the revenue target for 2nd quarter of Rs1204.39million while the collectorate transcended said target with a collection of Rs1246.12million during 1st October to 21st of November of Sales Tax (ST). The collectorate earned extra revenue of Rs42million under the same head during said period against earmarked revenue target for 2nd Quarter FY17-18.
The collectorate was assigned Rs290.17million for October FY17-18 as ST whereas it was assigned Rs432.81million for the month of November FY17-18 of ST while the collectorate was allocated Rs492.41million under the same head for the month of December FY17-18.
The collectorate generated Rs797.20million of ST during October FY17-18 whereas it did Rs448.92million under the same head during 21 days of November FY17-18. The collectorate achieved 507.03 % growth as ST against the earmarked revenue target during October FY17-18 while it received Rs27.11million under the same head during 21 days against the assigned revenue target for November FY17-18.
The Customs Collectorate Islamabad showed 274.74% achievement during October FY17-18 against the allocated target of ST whereas it showed 106.43% growth during first three weeks against the earmarked target as ST for the month of November FY17-18.
