ISLAMABAD, April 27: The revenue collection has declined by 8.97 per cent to Rs39.958 billion during the month of March 2004 against the month's budgeted target of Rs43.9 billion.
The official final figures released by the Central Board of Revenue (CBR) here on Tuesday showed that the revenue registered a growth of only 3.5 per cent during the month under review when compared with the collection of Rs38.583 billion over the same month last year.
The statistics showed that the collection of income tax, sale tax and central excise declined during the month of March 2004 against the month's budgeted target. The custom's collection for the month, however, showed a slight growth exceeding the target.
The tax authorities have collected more than Rs15 billion in revenue over and above the overall target up to May during the current financial year. The target set up to July-March was Rs342 billion. And the total collection during the same period stood at Rs353.395 billion.
Tax- wise break-up showed that the tax authorities have collected Rs12.043 billion during March against the target of Rs13.7 billion set for the same month, showing a decrease of 12 per cent.
The revenue under the head of sales tax declined by 15.3 per cent to Rs15.665 billion during the month under review against the target of Rs18.5 billion set for the same month.
The revenue collection under the head of central excise duty (CED) stood at Rs4.173 billion in March against the target of Rs4.2 billion for the same month, showing a decline of 0.64 per cent. The tax authorities collected Rs8.077 billion under the head of customs collection against target of Rs7.5 billion, showing an increase of 7.69 per cent.
