ISLAMABAD: The Federal Board of Revenue on Tuesday claimed that revenue collection registered a growth of 27.4 per cent in the first quarter of this fiscal year.

In absolute terms, the revenue collection reached to Rs373.819 billion in July-September compared to Rs293.496 billion in the corresponding period last year, suggested provisional figures of FBR released here on Tuesday.

The government has projected an ambitious revenue target of Rs1,952 billion for 2011-12. The FBR had missed the collection target for 2010-11 by Rs38 billion at Rs1,550 billion.

The Inland Revenue collection showed a growth of 29.3 per cent at Rs331.312 billion during the quarter under review as against Rs256.331 billion in the corresponding period last year.

The break-up of the Inland Revenue collection showed that the direct taxes collection reached to Rs122.189 billion in July-September up by 27.7 per cent from Rs95.718 billion over the corresponding period last year.

The sales tax collection recorded a growth of 34.9 per cent at Rs180.415 billion during the period as against Rs133.702 billion the same quarter last year.

The collection in sales tax was mainly driven by a robust growth of 62.8 per cent in collection on import proceeds as it stood at Rs104.124 billion during the period under review as against Rs63.957 billion over the corresponding period last year.

Contrary to this, the collection of sales tax on domestic businesses recorded a paltry growth of 9.4 per cent as it reached to Rs76.291 billion this year against Rs69.745 billion over the corresponding period last year.

The collection of Federal Excise Duty (FED) witnessed a growth of 6.7 per cent as it reached Rs28.708 billion during the quarter as against Rs26.911 billion over the corresponding period last year.

However, the FED collection on imports declined by 44 per cent, while a growth of 15.3 per cent recorded on domestic businesses during the period under review.

And collection of customs duty recorded 14.4 per cent growth in the first quarter this year as it reached to Rs42.507 billion as against Rs37.165 billion over the corresponding period last year.