Revenue worth Rs 19.15 billion collected during the same period last fiscal year.
Issuing a press statement on Tuesday, the Ministry of Finance stated that tax and non-tax revenue increased by 3 percent and 95 percent, respectively, compared to the target set for the month.
Tax revenue and non-tax revenue rose by 27.4 percent and 58.7 percent, respectively, compared to the amounts collected during the first month of the last fiscal year.
However, collection of revenue from customs has been reported at Rs 4.69 billion against the target of Rs 5.03 billion for the month. [break][
“Customs revenue collection slowed as import duty could not be mobilized as per the target,” states the statement.
Similarly, the mobilization of VAT during the month reached to Rs 9.29 billion, which is 3.5 percent less than the target. However the amount is 17.03 percent higher than the sum collected during the same period last fiscal year.
The deficit in achieving the target in VAT has been attributed to less collection of VAT from internal trading compared to the VAT collected from imports.
The collection of excise duty also fell short by 8 percent against the target of Rs 2.98 billion. However, the mobilization of excise duty during the review month is 24.46 percent higher compared to the amount during the corresponding month last year.
“Total collection of excise duty suffered as excise duty raised from imports slackened compared to that from domestic products,” the statement further adds.
However, the collection of income tax touched Rs 4.03 billion, up by Rs 727.3 million compared to the target for the month. Significant rise in revenue from house rent tax and other heads despite fall in interest tax collection pushed up overall income tax volume.
Non-tax revenue also increased to Rs 2.24 billion, about 95 percent rise compared to the amount recorded during the same period of the last fiscal year.
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