Kailali customs collects revenue of Rs 7 billion in 11 months of current FY

KATHMANDU, June 18: The Kailali Customs Office, Dhangadhi has collected revenue of Rs 7.32 billion in 11 months of the current fiscal year. The customs office collected the revenue from Shrawan (mid-July to mid-August) to mid-June of the current fiscal year 2023/24.

During the review period, revenue collection amounted to Rs 2.77 billion in customs duty, Rs 2.95 billion in value-added tax, Rs 189.5 million in excise duty, and Rs 1.40 billion in other categories, according to Pabitra Kumar Khadka, Information Officer at the Kailali Customs Office.

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Khadka said the annual revenue collection target for the customs office in the current fiscal year is Rs 11.58 billion. In the 11 months so far, the customs office has achieved 63.21 percent of the annual target.

According to Information Officer Khadka, revenue collection in the current fiscal year was Rs 468.2 million in Shrawan (mid-July to mid-August), Rs 519.3 million in Bhadra (mid-August to mid-September), Rs 631.4 million in Ashoj (mid-September to mid-October), Rs 614.6 million in Kartik (mid-October to mid-November), Rs 733.4 million in Mangsir (mid-November to mid-December), and Rs 689 million in Poush (mid-December to mid-January).

Similarly, Rs 666.7 million was collected in Magh (mid-January to mid-February), Rs 690.1 million in Falgun (mid-February to mid-March), Rs 721.3 million in Chaitra (mid-March to mid-April), Rs 751.7 million in Baisakh, (mid-April to mid-May) and Rs 835.3 million in Jestha (mid-May to mid-June), he said.

“Imports have not increased, and exports are negligible. Capital expenditure is low,” Khadka said. “There is a decline in the import of goods that generate higher revenue, which is why we are not meeting our revenue collection targets. With only one month remaining, it is unlikely that we will reach the revenue collection target,” he added.

In the last fiscal year 2022/23, the customs office had an annual revenue collection target of Rs 12.30 billion, but it collected only Rs 8.29 billion. This amounted to only 67.41 percent of the target, according to the customs office.