Vizag zone sees two-fold rise in customs revenue

The Visakhapatnam customs and central excise zone posted over two-fold growth in revenue collections during the nine-month period of April-December 2010, as compared with the same period last year. The zone comprises customs houses in Vizag, Kakinada and Krishnapatnam.

Revenues stood at Rs 3,825 crore as against Rs 1,647 crore in the preceding year on the back of robust economy, partial rollback of earlier announced stimulus package to industries, introduction of new levy on crude oil and export of iron ore, and increase in imported project cargo, Chandrahas Mathur, chief commissioner of customs and central excise, Visakhapatnam zone, said. The zone is targeting revenues of Rs 4,500 crore by March end.