The Central Board of Revenue (CBR) has collected Rs 111.5 billion during first quarter (July-September) 2004-2005 against Rs 94.1 billion collected during corresponding period last fiscal i.e. an increase of 18.5 percent. The CBR provisional collection of Rs 111.5 billion is Rs 1.5 billion more than the target of Rs 110 billion set for the first quarter of the current financial year. The CBR has surpassed the target reflecting growth on both the direct and indirect taxes sides.
The CBR on Thursday issued provisional tax collection figures showing extraordinary performance in terms of revenue collection as the provisional collection of Rs 111.5 billion is Rs 17.4 billion higher than the Rs 94.1 billion collected during the same period last financial year.
The tax managers are confident that the collection will increase after compilation of final figures in coming days.
According to the breakup of collection in September issued on Friday: The collection of direct taxes stood at Rs 30.7 billion reflecting a growth of 19.9 percent over the July-September collection last year.
Sales tax collection was Rs 49.4 billion against Rs 41.6 billion collected last fiscal reflecting an increase of 18.8 percent.
Customs duty collection was Rs 21.3 billion against 17.9 billion previous fiscal showing a growth of 19.3 percent.
The collection of central excise duty was Rs 10.8 billion during the first quarter of the current fiscal against Rs 9 billion collected in the same period last fiscal indicating a growth of 19.6 percent.
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