SIALKOT: Federal Board of Revenue has issued final notice to Gujranwala Electric Power Company (Gepco) warning of the last dead line of two weeks for clearing its outstanding arrears by June 30, 2014.
According to senior FBR officials, Gepco is a major defaulter of Rs 500 million, as Gepco had collected Rs 250 million as sales tax and Rs 250 million as Income Tax from the consumers through the monthly electricity bills during the fiscal year 2013-14.
However, Gepco had not yet paid Rs 500 million to FBR despite the repeated recovery notices issued by the central revenue body. Gepco was bound to ensure the timely deposit of the big amount to FBR at the earliest, officials added.
FBR has warned Gepco to clear its prolonged pending arrears by June 30, 2014, otherwise, the revenue body will freeze its bank accounts deducting the chunk after the deadline.
Senior FBR officials also added that FBR has recovered Rs 9.1 billion from Gujranwala region out of its total recovery target of Rs 10.15 billion set for the fiscal year 2013-14. They disclosed that as many as 13 special recovery teams were striving to recover the pending arrears of Rs 1.5 billion till June 30, 2014, the last day of the current fiscal year.
Official sources revealed that FBR has recovered Rs 5.83 billion as income tax, Rs 4.28 billion as sales tax and Rs 3.5 billion as federal excise duty during the ongoing special recovery campaign in Gujranwala region.
FBR senior officials further said that several owners of factories and private hospitals were defaulters of Rs 200 million as they had not yet paid their excise duty to Punjab’s Excise and Taxation Department in this region. The recovery target was Rs 231.6 million in this regard out of which the officials concerned of Punjab’s Excise and Taxation Department has recovered only Rs 11 million.
