The Central Board of Revenue (CBR) has collected Rs 646.9 billion during July-April (2006-2007) against the target of Rs 645.1 billion, denoting an increase of Rs 1.8 billion. According to the provisional figures released on Monday, the net revenue collection stood at Rs 646.9 billion during the first ten months of current fiscal against Rs 547 billion in the corresponding period last fiscal, indicating a cumulative growth of 18.3 percent.
Tax managers are confident that the collection would further increase on compilation of final figures in the coming days. The board has to collect Rs 189.9 billion in the remaining two months of the outgoing fiscal to meet the target of Rs 835 billion set for 2006-2007. The board collects Rs 94.95 billion in each month of May and June to meet the target. So far, the board has surpassed the target of Rs 645.1 billion by amassing Rs 646.9 billion. Last year, collection in June 2006 had crossed Rs 99 billion.
Break up of tax collection reveals that the direct taxes collection was Rs 249.3 billion during July-April (2006-2007) against Rs 167.6 billion in the same period last fiscal year, showing a remarkable increase of 48.8 percent.
Sales tax collection has reached Rs 242.72 billion during the period under review against Rs 228.5 billion during July-April (2005-2006), indicating a growth of 6.2 percent. GST collection at the import stage was Rs 138.650 billion during this period against Rs 134.86 billion, showing a growth of 2.8 percent. Sales tax collection on domestic consumption was Rs 104.072 billion against Rs 93.68 billion in the same period last fiscal, reflecting a growth of 11.1 percent.
Collection of federal excise duty (FED) was Rs 53.460 billion in July-April 2006-2007 against Rs 45.375 billion in the corresponding period last year, showing a growth of 17.8 percent. The collection of customs duty stood at Rs 101.35 billion during July-April 2006-2007 against Rs 105.49 billion in the same period last financial year, showing decrease of 3.9 percent due to declining dutiable imports.
The provisional collection of federal taxes during April, 2007 was Rs 50 billion, which is expected to increase further in coming days when provisional figures are finalised.
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