Revenue Collection through Customs Points under Scrutiny

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Revenue Collection through Customs Points under Scrutiny

April 24: The government is preparing to increase revenue collection through the customs point to make up for the losses caused by the impact of COVID-19.

The Ministry of Finance has issued an 18-point instruction to the Department of Customs to meet its target of revenue collection by preparing an alternative work plan.

Concluding that all the customs point have collected lower revenue than the set target, the ministry has instructed them to step up the revenue collection within the current fiscal year.

After finding adequate stock of imported goods in the market, the government authorities are apprehensive that those goods might have been smuggled into the country. The ministry has instructed the department to collaborate with other government agencies and adopt a policy of interference in the market if the goods are getting access into the country through illegal channels. The ministry has demanded progress report in every seven days after monitoring the market for such goods.

The ministry believes that the goods imported in bulk through the customs points might have entered the country under the cover of something else. Government authorities suspect that the importers bring in expensive and branded goods declaring them to be of normal quality, thereby evading customs duty. The ministry has instructed the customs department to make sure such misappropriations do not take place.

Authorities expect an increase in revenue if they could ascertain the actual details of the goods declared by the importers. 

The customs offices have been instructed to take action against the importers if the declaration made by them does not match with the specifications of the goods.

 

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