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Multan Customs misses assigned collection task by Rs927.395m during 1Q

Multan Customs misses assigned collection task by Rs927.395m during 1Q

MULTAN: Collectorate of Customs has missed the assigned revenue collection target by Rs927.395 million during the first quarter of the Fiscal Year 2018-19.

Sources told Customs Today, that Collectorate collected customs duty of Rs1667.877 million against the target of Rs2154 million during the first three months of the first quarter of economic year 2018-19. The Collectorate has achieved almost 90.09 percent target during the first quarter of this current fiscal year 2018-19.

Sale tax collected by the Collectoate during the first quarter of the current Fiscal Year was Rs5444.61 million against the target of Rs8292 million for the period of the first quarter of the monetary year 2018-19.The Collectorate achieved 65.7 percent assigned target in first quarter of existing economic year.

The Collectorate has collected withholding tax (WHT) of Rs32.58 million during the first quarter of the economic year 2018-19. The target of the withholding tax (WHT) during the first quarter of fiscal year was almost Rs68 million. The Customs has attained the target of 47.9 percent from the set target of the Collectorate.

Federal Excise duty of Rs25.73 million was collected against the target of Rs 29 million during first quarter of economic year 2018-19. Almost 88.7 percent of the assigned target has been accomplished during first three months of the current fiscal year.

The revenue collection of the Collectorate dropped in the first two months of economic month and revenue collection took momentum in the third month of fiscal year 2018-19.

The revenue collection of the Collectorate was reduced due to the decreased in the import of clearances of High Speed Diesel (HSD) from Multan Dry Port in the first three months of existing economic year.