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 Punjab Excise collects Rs 13.88 billion in 8 months

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PostSubject: Punjab Excise collects Rs 13.88 billion in 8 months   Thu 19 Mar 2015, 10:26 am

LAHORE: The Punjab Excise and Taxation Department has collected Rs 13.88 billion taxes ,61 percent of the set target in eight months (July-February) for the current fiscal year of 2014-15.
As per available statistics, the department has achieved 61 percent of the set target for current year that is 10 percent more than the collections of the corresponding period of last fiscal year 2013-14. During the last year, excise collected Rs 12.56 billion in first eight months.
As per details, excise has received Rs 45.63 million under the head of entertainment duty which is 57 percent of the target, Rs 0.297 million collected as farm house tax that is 92 percent less than previous year.
Department could not collect luxury Tax enough during July-February as many taxpayers have gotten stay order from the Lahore High Court regarding the luxury tax.
Excise also received Rs 406.28 million as professional tax by achieving the 70 percent of the set target Rs 783 million.
Excise has started crackdown on broader level against defaulters to recover the taxes as more as possible.
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