The Hindu : Tamil Nadu / Tuticorin News : 48 per cent increase in gross revenue by Tuticorin Customs

Online edition of India's National Newspaper
Sunday, Apr 03, 2005

Tamil Nadu

Tamil Nadu - Tuticorin

48 per cent increase in gross revenue by Tuticorin Customs

By Our Staff Reporter

TUTICORIN, APRIL 2. The gross revenue, collected by the Tuticorin Customs during the financial year 2004-05, has shown an increase of 48 per cent over the revenue collected during 2003-04.

Speaking to The Hindu , M. Veeraiyan, Customs Commissioner, Tuticorin, said the customs house here was able to collect revenue of Rs.1,090 crores during 2004-05 vis-à-vis Rs.735 crores collected in the previous fiscal.

On the net revenue, he said the Tuticorin Customs had realized net revenue of Rs.972 crores as against Rs.658 crores recorded during 2003-04.

"This has been achieved despite an increased payment of Rs.118 crores towards refund of customs duties and customs portion of duty drawback paid to the exporters."

The net revenue was arrived at by deducting the refund of customs duties and customs portion of duty drawback, from the gross revenue.

Mr. Veeraiyan said the average net revenue for the first four months of 2004-05 was Rs.58 crores, whereas the average net revenue for the next eight months shot up to Rs.92 crores.

The steep increase in the revenue figures, he said, was owing to buoyancy in imports and increase in value of major commodities imported from across the globe.

Besides, stringent measures taken by specially trained squads of Customs to curb the evasion of duties on imports and steps taken to curb misuse of export incentive schemes too contributed to revenue buoyancy.

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