LAHORE: Excise and Taxation Department Punjab has achieved 71 percent of the set target during first nine and half months (July1-April 15) of the current fiscal year 2014-15.
According to available statistics, the Excise Department collected Rs 16 billion during the said period, while the target for this year is Rs 22.8 billion. The department has almost two months to achieve the remaining Rs 6.8 billion tax to meet the target.
Talking to Customs Today, officials said that it would be difficult for the department to achieve the remaining 29 percent of the target within two months. They said the department was struggling to meet the target for the current fiscal year 2014-15.
They added that Punjab Excise Secretary Ali Tahir has directed the authorities concerned to expedite the revenue collection process. The secretary also instructed them to take stern action against tax defaulters.
The Excise and Taxation Department &T has collected Rs 1.34 billion in wake of excise duty on the sale of alcohol during the first nine-and-a-half months of the current year.
