The Central Board of Revenue (CBR) has so far collected Rs 409.2 billion for July-February (2005-06) period against the target of Rs 408.7 billion, reflecting an increase of Rs 0.5 billion.
According to the provisional figures released on Tuesday, the collection of Rs 409.2 billion in eight months of the current fiscal year is Rs 68.217 billion more than Rs 340.983 billion collected in the corresponding period of 2004-05.
The CBR expects further increase in the overall collection after compilation of final figures. The CBR has to collect Rs 280.8 billion more to meet the target of Rs 690 billion for 2005-06.
Tax-wise details of July-February 2005-06 show that direct tax collection was Rs 121.9 billion, against the target of Rs 115.7 billion, showing an increase of 6.5 percent.
The indirect taxes collection stood at Rs 287.348 billion, against Rs 244.659 billion collected in the corresponding period of last fiscal year with an increase of Rs 42.689 billion.
An overall growth of 19.9 percent has been observed on the sales tax side. While the import stage sales tax receipts have increased by 14.3 percent, the sales tax domestic collection has registered a healthy growth of 29.8 percent over the corresponding period of last year.
The overall sales tax collection has reached Rs 174.1 billion during the eight months, against Rs 145.172 billion collected in the same period of last year showing an increase of Rs 28.946 billion.
The GST collection at the import stage was Rs 105.077 billion, against Rs 91.967 billion, reflecting an increase of Rs 13.11 billion. The sales tax collection on domestic consumption was Rs 69.041 million, against Rs 53.205 million with a growth of Rs 15.836 billion.
The collection of customs duty was Rs 80.729 billion in July-February 2005-06 against Rs 68.0 billion collected in the same period of last year, indicating a growth of 18.8 percent.
The collection of federal excise duty (FED) was Rs 32.501 billion, against Rs 31.516 billion, showing a decrease of Rs 0.985 billion. As per data, the CBR paid Rs 54.998 billion as refund/rebate to exporters during the period under review against Rs 64.280 billion in the same period of last fiscal year, showing a decrease of Rs 9.282 billion.
The Board paid Rs 23.100 billion as GST refund in July-February 2005-06 against Rs 38.644 billion paid during the same period of last fiscal year, showing a decrease of Rs 15.544 billion. The payment of sales tax refund at the import stage was Rs 64 million, while domestic refund stood at Rs 23.037 billion.
The customs department paid Rs 12.464 billion as rebate/duty drawback, against Rs 10.291 billion, reflecting an increase of Rs 2.173 billion.
The CBR paid Rs 19.217 billion as income tax refund during the first eight months of current fiscal against Rs 15.314 billion in the same period of last year, showing an increase of Rs 3.903 billion. The central excise rebate of Rs 217 million was paid to exporters in the first eight months of 2005-06 against Rs 31 million paid in the corresponding period of last fiscal year.
The provisional collection for February amounted to Rs 39.4 billion with the following break-up: Rs 19.2 billion as sales tax, Rs 9.7 billion as customs, Rs 3.0 billion as federal excise and Rs 7.5 billion as direct taxes. During the month, the CBR paid refund/rebates of Rs 4.837 billion including Rs 2.730 billion of sales tax refund.
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