ISLAMABAD: The Peshawar Dry Port’s customs bonded warehouse section collected Rs 172.325 million in the wake of duty/taxes during first month (July) of new fiscal year 2016-17.
Officials said that Peshawar Customs bonded warehouse progress was good regarding collection of customs duty, sales tax, federal excise duty, and advance income tax.
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During July 2016, it collected Rs 68.189 million as customs duty, Rs 93.496 million as sales tax, Rs 7.159 under the head of federal excise duty (FED) and Rs 3.481 million as advance income tax (AIT) with total collection of Rs 172.325 million.
Comparatively, it generated Rs 206.449 million under the head of duty/taxes during July of outgoing fiscal year 2015-16. It collected Rs85.411 million as customs duty, Rs 104.17 million as sales tax, Rs 8.5 million as FED and Rs 8.368 million as advance income tax.
The officials said that bonded warehouse is a secured facility supervised by deputy collector and other lower staff, where dutiable landed imports are stored or release on assessment and payment of import duties, taxes, and other charges, and it is also called customs warehouse.
The bonded warehouse is also a main source of generating revenue, and it always achieves the set revenue tax collection target given by the Peshawar Customs, they added.
The department also achieved its revenue target during outgoing fiscal year 2015-16, the informed, adding that it will also follow suit in running fiscal year.
