MULTAN: The Customs Collectorate has made revenue collection of Rs 4,233.008 million throughout the month of May in the on-going fiscal year 2016-17.
Sources told Customs Today that the Customs Collectorate has successfully attained the assigned revenue collection task of customs duty for the month of May. Multan Customs has done collection of Rs 1041.868 million against the assigned target of Rs 903.480 million in terms of customs duty for the duration of May 2016-17.
The Collectorate of the Multan Customs posted 3% excess growth in collection of customs duty for the period of May. The Customs Collectorate Multan was able to fetch Rs917.146 million under the head of customs duties against the assigned target of Rs1509.860 million during the corresponding period of the fiscal year 2015-16.The collection of customs duty was improved due to surge in the import clearances of High Speed Diesel (HSD) in May 2017.
The Collectorate of Multan Customs collected sales taxes of Rs3165.161 million during the period of May against the assigned revenue task of Rs4451 million. The sales tax collection has been reduced due to decrease in the tax ratio of HSD import clearances in May.
On the other hand Multan Customs collected Rs6521.965 million in the corresponding period of May 2015-16. Sales tax collection has been dropped suddenly in the current fiscal year due to adjustments in the tax ratios by government.
The collection of federal excise duty (FED) made by Customs Multan was Rs11.565 million against assigned revenue collection of Rs.15 million during the month of May.
Whereas Rs14.106 million were collected under the head of federal excise duty (FED) during the corresponding period of May 2015-16. Multan Customs has collected Rs.13.541 under the head of income tax and its assigned revenue task was Rs20 million for the month of May. Multan Customs has made overall tax collection of Rs4233.008 million during the month of May.
