MULTAN: The Collectorate of Customs has successfully collected Rs.3520.412 million during the month of March 2017-18.
According to available statistics revealed by Customs Collectorate, Federal Board of Revenue has assigned huge collection target of Rs3616.61 million under the heads of customs duty, sales tax, federal excise duty and income tax for the month of March 2017-18.
During March of Financial Year 2017-18, the Collectorate generated Rs.1160.137 million under the head of customs duty (CD) by exceeding 20 % collection in the month of March while it was assigned the revenue collection target of Rs.1095.210 million. Multan Customs has witnessed growth in collection of customs duty due to their effective strategy and on time clearance of the import batches cleared from Multan Dry Port.
The Collectorate received higher customs duty than the previous months of the fiscal year due to impressive performance of the Multan Customs. The Collectorate of Customs has collected Rs960.065 million during the corresponding period of the March 2016-17.
The Customs Collectorate has collected Rs2343.108 million under the head of sales taxes against the assigned target of Rs2468.17 million during the month of March. Multan Customs could not meet the revenue collection task of sales taxes due to slight decline in the clearances of HSD consignments. The Collectorate was able to collect Rs.2189.752 million in the matching period of the economic year 2016-17.
Multan Customs collected federal excise duty (FED) of Rs7.513 million against the set target of Rs.30.44 million throughout the month of March of fiscal year 2017-18. It has generated Rs.9.467 million under the head of income tax against target of Rs.22.79 million in March FY-2017-18. Multan Customs has also collected Rs.0.187 million in wake of additional sales tax during March.
Meanwhile Collectorate of the Multan Customs successfully collected Rs.3520.412 million against the assigned revenue collection target of Rs.4594.950 million throughout the month of March in the on-going fiscal year 2017.18. While on the other hand it made collection of Rs.3199.903 million in the corresponding period of economic year 2016-17. The Collectorate has posted 20% growth in the revenue collection of taxes during said period due to effective strategy adopted by Collector Ambreen Ahmad Tarar.
