MULTAN: The Model of Customs Collectorate Multan collected Rs 4,425.248 million against the set target of Rs 3,783 million in November during the current fiscal year.
Official statistics show that net collection of customs duty exceeded in November as compared to previous month. Customs duties to the tune of Rs 984.147 million were collected by Multan Customs against the assigned target of Rs 1233.2 million for the month of November. Net collection of customs duty during first five months of the fiscal year 2015-16 stood at Rs 3170.471 million. The Model of Customs Collectorate Multan attained 80% revenue collection target during November. Almost 8% increase in customs duty collection has been witnessed with revenue collection of Rs 914.624 million in the corresponding month of November.
Almost 8% increase in revenue collection of customs duties has been linked to the increasing trend in clearance of imported items from the Multan Dry Port for the duration of November.
The Model of Customs Collectorate Multan collected Rs 3416.439 million revenue collections against target of Rs 2443.11 million from sales tax of import goods during the month of November. Sales tax collection has attained almost 140% revenue target throughout month of November.
Tax collection by the MCC Multan has increased 58 per cent as compared to corresponding economic year. It reflected increase in sale tax collection in the first five-month with collection of Rs.3416.709 million against target of Rs.2443.11 million.
About Rs.11.844 million revenue of Federal Excise Duty has been collected by MCC Multan against target of Rs.36 million. MCC Multan collected Rs.12.818 million collection revenue by against target of Rs.70.69 million during the month of November. The Model of Customs Collectorate Multan also failed to achieve the set targets of federal excise duty and withholding taxes during the month of November. Overall Multan Customs has successfully surpassed the set target by the Federal Board of Revenue due to handsome collection of sales tax revenue during November.
Sources told Customs Today that, increase in sales tax on diesel by the federal government has observed an increase on imports of Multan Customs in the month of November. Multan Customs receives 94pc revenue from duties and taxes on diesel, the revenue collection witnessed a slight increase because of increased rate of sales tax on diesel.
