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Rs8m loss witnessed in collection of Peshawar Customs Treasury Branch against 2015-16

Rs8m loss witnessed in collection of Peshawar Customs Treasury Branch against 2015-16

PESHAWAR: The Customs House Peshawar collected taxes from various state owned entities situated in the jurisdiction of Model Customs Collectorate Peshawar.

In the previous FY, Treasury Branch MCC Peshawar has generated the revenue of Rs162.73million as Customs Duty and Sales Tax on items.

A drop of Rs8million was recorded in the collection of Treasury Branch as compared to the generation of FY2015-2106.

The Treasury Branch officer told Customs Today on Friday at the MCC Peshawar that due to certain unheard complications in the procedure of collecting abilities by the federal government, the branch is still managed to surpass the collection target of previous FY2015-2016.

It has showed certain increase in the revenue collection of July 2017-2018 due to building a trust upon the government services provided by the Federal Board of Revenue.

According to detail, TB MCC Peshawar was able to raise Rs169.39million customs duties in FY2016-2017 which was counted by MCC Peshawar. The Sale Tax generated on items was Rs11.89million in which Rs1.10million was counted as ST on VM Palm oil.

A loss of Rs19.80million was witnessed by missing the target to earn AIT. The AIT Exports showed a loss of Rs3.29million in the same period of FY2016-2107. The loss inflicted on Treasury Branch was Rs8.2millions in the tax collection of Treasury Branch MCC Peshawar in the aforesaid FY.

The Treasury Branch of the MCC Peshawar received Rs0.15millions as Federal Excise Duty while it earned Rs167.17 by impounding miscellaneous goods. The TB earned Rs0.07million of RD on Imports while Rs0.01million was generated by providing EDS PAK services.