MULTAN: The Customs Collectorate has collected Rs985.367 million under the head of petroleum development levy during the month of April 2017-18.
Sources told Customs Today that Multan Customs collected petroleum development levy from oil marketing companies on the clearance of ex-bonding of high speed diesel (HSD) shipments from Multan Dry Port. Petroleum development levy is levied by federal government on the oil marketing companies for clearance of high speed diesel and Multan Customs collected petroleum development levy on the clearance of High Speed Diesel.
Multan Customs collected petroleum development levy of Rs985.367 million from clearance of high speed diesel. Although Multan Customs had collected petroleum development levy amounting to Rs1338.333 million from the clearance of high speed diesel in the same month in previous fiscal year.
The Multan Customs earned Rs12384.665 million under the head of petroleum development levy during the first ten months of economic year 2017-18.While it made collection of Rs.10619 million as petroleum development levy in the corresponding period of 2016-17.
The Collectorate has observed a boost in the collection of petroleum development levy during the first ten months of current fiscal year due to extra demand of petroleum products in the country.
The Collectorate of Multan Customs received almost 97 percent of its revenue collection through the clearance of High Speed Diesel and other petroleum products from the PARCO oil refinery located in the area of Mehmood Kot.
The Collectorate of Multan Customs collected all taxes from oil marketing companies including customs duty, sales taxes, federal excise duty, income taxes, additional sales taxes, petroleum development levy from oil marketing companies at the time of ex-bonding clearance from Multan Dry Port.
