First quarter provisional collection now stands at Rs 312.90 billion

The shortfall in revenue collection during first quarter (July-September) has been drastically reduced to Rs 7.093 billion, as the provisional collection now stands at Rs 312.907 billion during the period under review, it is learnt here on Monday.
On September 22, 2011, the FBR had reportedly collected Rs 250 billion during first quarter (July-September) 2011-12 against the quarterly target of Rs 320 billion, reflecting a shortfall of Rs 70 billion. The latest revenue collection figures compiled on September 26 showed that the tax machinery has provisionally collected Rs 312.907 billion during first quarter (July-September) 2011-12 against the quarterly target of Rs 320 billion, reflecting a shortfall of only Rs 7.093 billion. Thus, the shortfall in revenue collection has been reduced from Rs 70 billion to Rs 7.093 billion during this period.
Sources told Business Recorder here on Monday that the provisional revenue collection during first quarter of current fiscal (July-September) 2011-12 stood at Rs 312.907 billion which is reflecting figures compiled upto Sep 26, 2011. During September 2011, the FBR provisionally collected Rs 87.922 billion.
Break-up of provisional revenue collection figures revealed that the FBR has collected Rs 93.764 billion as direct taxes; Rs 155.101 billion sales tax; Rs 27.052 billion Federal Excise Duty and Rs 36.990 billion as customs duty during first quarter of current fiscal (July-September)
Sources said that the revenue collection figure of Rs 312.907 billion during first quarter (July-September) 2011-12 is provisional and FBR is expected to meet the assigned target of Rs 320 billion by the end of current month. In the remaining period of current month, the FBR would be able to meet the assigned target for first quarter of 2011-12 taking into account current pace of revenue collection.