MULTAN: The Customs Collectorate has collected Rs3162.038 millions revenue during the first twenty days of May during the on-going fiscal year 2016-17.
Sources told Customs Today that the Collectorate of Multan Customs collected Rs772.203 million under the head of customs duty from 1st May to 20th May. On the other side, Federal Board of Revenue has allotted customs duty revenue collection target of Rs903.480 million to Multan Customs Collectorate for the month of May.
The Customs Collectorate has attained 85% of the assigned revenue collection target of customs duty during the first 20 days of May. Multan Customs is tackling with huge collection task of customs duty and Collectorate has managed to collect their major part during the first 20 days and remaining customs duty will be collected in the remaining days of the month.
The Customs Collectorate has made collection of Rs2375.717 million in the first 20 days of May. The Federal Board of Revenue has set the sales tax collection target of Rs4451 million in the first 20 days for the May. Multan Customs is facing shortfall in the revenue collection of sales tax reduced collection in the sales taxes due to decrease in the import clearances at the Multan Dry Port.
The collection of sales taxes at the Multan Customs Collectorate is also facing constant decline due to drop in the clearances of HSD products from Multan Dry Port.
Multan Customs has made the collection of Rs8.104 million under the head of federal excise duty (FED) in the first 20 days of the May against the given revenue task of Rs15 million for whole month of May .
The Customs Collectorate Multan has collected Rs8.14 million of income tax against the assigned task of Rs20 million for the month of May in the first 20 days of May of the on-going financial year 2016-17.
Multan Customs is hopeful that they will achieve assigned collection task for the month of May in the remaining days of May due to their adopted strategy.
