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Multan Customs posts 3pc growth in revenue collection during 3Q of FY-2019

Multan Customs posts 3pc growth in revenue collection during 3Q of FY-2019

MULTAN: Collectorate of Customs has generated Rs9017.141 million during third quarter (January to March) of the ongoing fiscal year 2018-19.

The Collectorate collected customs duty of Rs4098.356 million against the target of Rs3954 million during the three months of the third quarter of fiscal year 2018-19. The Collectorate posted 3 percent growth in the revenue collection of customs duty by generating Rs144.356 million excess collections from set task due to effective strategy designed by Collector Ambreen Ahmad Tarar in third quarter of this current fiscal year 2018-19.

Sale tax collected by the MCC was almost Rs4776.583 million against the target of Rs8086 million collected during third quarter of the current fiscal year 2018-19. The Collectorate achieved 60 percent revenue task due to decline in the import clearances from Multan Dry Port.

The Collectorate generated income tax of Rs 87.987 million against the assigned task of Rs55 million during the third quarter of the fiscal year 2018-19. The Collectorate showed encouraging progress in the collection of income taxes by collecting excess revenue of Rs32.987 under the head of customs duty. It attained 160 percent growth from the set target of MCC Multan during said period.

The Collectorate made collection of Rs54.215 million under the head of federal excise duty during third quarter of the existing fiscal year 2018-19. Almost 187 percent of the assigned target has been accomplished in wake of federal excise duty (FED) during the third quarter of the fiscal year 2018-19.

The Collectorate collected Rs9017.141 million against Rs12124 million throughout third quarter of the financial year 2018-19. The revenue collection of the Collectorate showed progress after the end of the third quarter of the ongoing fiscal year of 2018-19.

Multan Customs is set to continue the positive trajectory in boosting revenue collections through various revenue enhancement strategies as well as maintaining the momentum by encouraging business community to avail facilities of Multan Dry Port for swift clearances of shipments.