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Raja Simhan T E

Chennai , April 14

THE Chennai Custom House (CCH) - sea - reported net revenue of Rs 5,059 crore for the year ended March 31, 2004, compared to Rs 4,566 crore the previous fiscal year, a 11 per cent increase in net revenue.

The CCH (sea) also recorded a 4 per cent increase in revenue over annual target of Rs 4,878 crore for 2003-04. "After two years of recession, 2003-04 was a great year for us", said a senior CCH official. During 2003-04, there was growth in import and export of all major commodities, he said.

The total value of imports handled during 2003-04 was Rs 24,264 crore, a 21 per cent increase over previous fiscal year. The value of exports (based on export general manifest date, or export report filed with the Customs) went up by 23 per cent over previous year to Rs 24,110 crore. The CCH (sea) sanctioned duty drawback — entitlement to drawback duties on imported inputs used in producing materials for export — worth Rs 229 crore during 2003-04, a 16 per cent increase over previous year, the official said.

The biggest revenue growth during 2003-04 came from import of machinery, including machine tools, parts and accessories and ball/roller bearings that increased by 18 per cent over previous year to Rs 956 crore. Revenue from petroleum and oils obtained from bituminous mineral crude increased by 10 per cent to Rs 518 crore. Similarly, revenue from electrical machinery showed an increase of 8 per cent to Rs 441 crore. Revenue from Motor vehicles and parts went up by 8 per cent to Rs 400 crore. The official said that growth has been due to increased import of raw material by manufacturing firms. There was however, a drop in revenue from project cargo during 2003-04. About three years ago, revenue from project cargo for CCH (sea) used to be Rs 275 crore to Rs 300 crore. But, this has come down to less than Rs 100 crore during last year.

MRF top exporter

MRF Ltd was the top exporter at Chennai Customs House (sea) while Chennai Petroleum was top importer during 2003-04. MRF exported goods worth Rs 310 crore last fiscal. Nestle India Ltd was second with exports worth Rs 141 crore while ITC Ltd exported goods worth Rs 124 crore in last fiscal year, said data provided by CCH (sea port). The Mumbai-based Futura Polyesters Ltd exported goods worth Rs 116 crore, while Texport Syndicate, also a Mumbai-based firm, exported goods worth Rs 96 crore.

During 2003-04, Chennai Petroleum Corporation imported gods worth Rs 532 crore, while Hyundai Motor was second with Rs 520 crore. Toyota Kirloskar Motor imported goods worth Rs 278 crore. For rest of the top 100 importers, the value of the goods was less than Rs 70 crore, with Visteon Automotive importing worth Rs 68 crore, said the data.

More Stories on : Excise and Customs | Exports & Imports | Tamil Nadu

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A `great year' for Customs wing

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