Wednesday , September 19 2018
Breaking News
Home / Latest News / Multan Customs collects Rs42077.301m during the whole FY 2017-18
Multan Customs collects Rs42077.301m during the whole FY 2017-18

Multan Customs collects Rs42077.301m during the whole FY 2017-18

MULTAN: The Customs Collectorate collected revenue of Rs42077.301 million during the whole Fiscal Year 2017-18.

According to the data, the Federal Board of Revenue assigned annual revenue collection target of  Rs38531.64 million under the heads of customs duty, sales tax, federal excise duty and income tax to the Multan Customs for the period from July to June 2017-18.

The Customs Collectorate collected of customs duty of Rs12089.501 million against the set target of Rs10336.300 million from (July to June) for the duration of the Fiscal Year 2017-18.

The customs duties collected by the Collectorate were from import stage of goods cleared through Multan Dry Port and Air Freight Unit during the Financial Year 2016-17.

The Customs Collectorate surpassed customs duty assigned revenue collection task of the Federal Board of Revenue due to dynamic strategy of Collector Ambreen Ahmad Tarar during the entire Fiscal Year 2017-18.

The Customs Collectorate posted 17 growth in the collection of customs duty through the fiscal year 2017-18 and it collected 33.36 % excess revenue collection of Customs duty than economic year 2017-18.

Multan Customs collected Customs duties from clearance of petroleum products HSD from PARCO through the fiscal year 2017-18.

Earlier, the Collectorate collected Rs8705.420 million under the head of customs duty against the assigned target of Rs.10336.30 million during the corresponding economic year of 2016-17.

The Customs collected Rs29576.70 million against the assigned task of Rs27728.95 million in wake of sales tax during whole fiscal year 2017-18.

Multan Customs accomplished sales tax revenue target and posted 6.7% growth during said period.  While the Collectorate collected sales tax Rs24601.080 million against assigned target of Rs44505 million during the corresponding monetary year 2016-17.

Sales tax collection of Multan Customs witnessed increase due to excess clearances of HSD in the previous year.

Multan Customs collected Rs174.50 million in the course of (July-June) 2017-18 against set task of Rs226.40 million.

On the other hand Multan Customs collected federal excise duty (FED) Rs207 .707 million against the set target of Rs.199 million during the matching fiscal year 2016-17. Multan Collectorate was able to generate Rs226.60 million against the set target of Rs.239.99 million under the head of income taxes during corresponding fiscal year 2016-17.

The Customs Collectorate collected income tax of Rs224.33 million against Rs423 million during the corresponding economic year 2016-17.

Multan Customs collected Rs.15.790 million in wake of additional sales tax during the entire economic year 2017-18.

However, Multan Customs attained the apportioned revenue task of collection due to effective measures taken by Collectorate.