MULTAN: The Customs Collectorate has exceeded its customs duty collection target by collecting Rs960.065 million against the assigned target of Rs.767.950 million during March.
According to available statistics revealed by Customs Collectorate Multan, Federal Board of Revenue has assigned huge collection target of Rs4594.950 million under the heads of customs duty, sales tax, federal excise duty and income tax for the month of March.
During March of Financial Year 2016-17, the Collectorate generated Rs.960.065 million as customs duty by exceeding 25 % collection in the month of March while it was assigned the revenue collection target of Rs767.950 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 the Multan Customs has collected Rs656.308 million during the corresponding period of the March 2015-16.
The Customs Collectorate Multan has collected Rs2189.752 million sales taxes against the assigned target of Rs3783 million for the month of March. Multan Customs is facing revenue shortfall in the collection of sales tax due to less clearances of High Speed Diesel (HSD) and drop in the proportion of taxes from Multan Dry Port in March of economic year 2016-17.The department could not meet the revenue collection task of Sales taxes due to sudden decline in the clearances of HSD consignments. The Collectorate of the Multan was able to collect Rs3605.064 million in the month of March matching period of the economic year 2015-16.
Multan Customs has collected federal excise duty (FED) of Rs27.927 million against the set target of Rs25 million throughout the month of March of fiscal year 2016-17. The Collectorate has successfully generated Rs21.300 million by accomplishing monthly revenue task of income tax against the set target of Rs.19 million in the March.
The Collectorate of the Multan Customs collected Rs4402.938 million against the assigned revenue collection target of Rs.4594.950 million throughout month of March in the on-going fiscal year 2016-17.
