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Gilgit-Baltistan Customs faces shortfall of Rs85m during 25 days of August

Gilgit-Baltistan Customs faces shortfall of Rs85m during 25 days of August

ISLAMABAD: The Model Customs Collectorate (MCC) Gilgit-Baltistan (GB) generated Customs Duty which is less than the assigned target during the initial 25 days of August Financial Year 2017-18.

The GB was assigned Rs205.77million revenue target for first 25 days of August FY2017-18 while it earned Rs120.46million against the revenue target whereas GB received Rs166.71million during the same period of corresponding 1st to 25th of August FY2016-17. So the GB has stayed with the deficit of Rs85million during 25 days of August 2017-18.
According to details given by sources that the MCC GB showed good performance by collecting With Holding Tax (WHT) and Sales Tax (ST) but earned somewhat less than the collection of CD against the allocated target for initial 25 days of August FY17-18.
The GB received Rs155.75million of ST during the first 25 days of FY17-18 against the set target of Rs103.60million while it did Rs113.45million during the same period of corresponding FY16-17.
The sources told CT that, during 25 days of August FY17-18, the MCC GB was assigned Rs52.65million proportional target as WHT whereas it earned Rs56.22million under the same head during the same period. And the GB got Rs50.70million of WHT during previous FY16-17.
The sources was told that, during first 25 days of August FY17-18, the GB generated Rs332.9million of all taxes against the set proportional target of Rs361.72million while it did Rs330.86million as all taxes during 25 days of August FY16-17.