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Multan Customs collects Rs4b revenue during July FY2017-18

Multan Customs collects Rs4b revenue during July FY2017-18

MULTAN: The Model Customs Collectorate Multan has generated Rs4billion revenue during the month of July Fiscal Year 2017-18.

The MCC Multan has fetched Rs244.490million from Customs Duty during the first month of Fiscal Year 2017-18 while Multan Customs was able to collect Rs192.776million of Customs Duty during July of Fiscal Year 2016-17۔. The MCC Multan has posted almost 25percent growth in the revenue collection of Customs Duty collection during the first month of current economic year against the corresponding period of 2016-17.

The MCC Multan has made a collection of Rs2465.490million of Sales Tax during July’s economic year 2017-18. On the other hand, Multan Customs received Rs1474.161million in the corresponding month of July of the economic year 2016-17.

The Model Customs Collectorate Multan has suffered a shortfall in the Sales Tax collection due to fall in the import consignments of High Speed Diesel in the last few months of Fiscal Year 2016-17. The collectorate has faced Rs431.089million less collection of Sales Tax than the collection of fiscal year 2015-16.

The Model Customs Collectorate Multan has collected Rs15.822million of Federal Excise Duty during July in FY2017-18 whereas it did Federal Excise Duty of Rs15.118million for the duration of July in the yesteryear of 2016-17.

Multan Customs has allocated the collection of Income Tax of Rs45.891million during July in economic year 2017-18 but it collected Rs15.078million in the same month for the previous monetary year of 2016-17.

The MCC Multan has got additional sales tax of Rs2.007million throughout the month of July in the current fiscal year 2017-18. It has also generated Rs1189.943million Petroleum Development Levy from the import stage of clearances of High Speed Diesel oil in July of economic year 2017-18 July.

The MCC Multan was able to collect Rs2540.337million during the corresponding FY2016-17. The Federal Board of Revenue has not assigned any revenue collection to Model Customs Collectorate Multan for Fiscal Year 2017-18 so far.