The Central Board of Revenue (CBR) has collected Rs 393.1 billion during ten months of current fiscal year against Rs 352.1 billion in same period of last financial year, reflecting an increase of Rs 41 billion.
Sources said that the collection of Rs 393.1 billion during July-April (2003-04) is Rs 116.9 billion short the laid down annual target of Rs 510 billion. The CBR has to collect Rs 58.45 billion in each remaining two months to meet the annual target.
Keeping in view past revenue collection trend, it seems that the CBR would comfortably surpass Rs 116.9 billion in the next two months.
On the GST side, the monthly collection stood at Rs 16 billion despite huge refund payment to exporters as collection from major revenue spinners including POL products, telephone and tele fax services, electrical energy, cotton, natural gas, sugar, cigarettes, cement and fertiliser remained satisfactory in April 2004, sources claimed.
According to provisional figures released here on Friday, the tax managers are confident to collect more revenue after compilation of final figures in the next 10 days.
However, the authorities have claimed that the CBR has achieved the cumulative revenue target for the first ten months of current fiscal year.
The collection of Rs 393.1 billion up to April 30, 2004 marks an improvement of 11.7 percent as compared to last year's collection. The provisional collection in April 2004 was Rs 39.7 billion.
Tax-wise break-up in April 2004 shows that Rs 16 billion was collected as sales tax; Rs 13 billion as income tax; Rs 6.9 billion as custom duty and Rs 3.8 billion was collected as central excise duty (CED).