The Collectorate of Sales Tax and Federal Excise Lahore has cleared refund claims to the tune of Rs 418 million during the month of July and August 2005, as against Rs 1600 million paid for same period during last year.
Talking about two months revenue position, Collector Sales Tax and Federal Excise Nazim Saleem told Business Recorder the Collectorate has collected Rs 856 million under the head of sales tax, while Rs 11 million have been collected as federal excise duty.
He further said that now, as against the past practice, the Central Board of Revenue was assigning them revenue collection targets on monthly basis, which they tried to achieve. To a question about revision in targets, he said it had been curtailed as most of the big units had been transferred to Large Taxpayer Unit (LTU).