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K.R.Srivats

New Delhi , April 25

The buoyancy in customs duty collections has helped the Government to not only achieve the revised estimates for indirect tax collections for 2006-07, but also surpass it. Excise duty collections for the financial year 2005-06 have, however, fallen short of the revised estimate.

The revised estimate for indirect tax collections for 2005-06 was pegged at Rs 1,99,215 crore, which was Rs 7,000 crore more than the Budget estimate.

Official sources said that actual indirect tax collections during the financial year 2005-06 have exceeded the revised estimates by not more than Rs 1,000 crore even while pointing out that data from small centres are yet to reach the Finance Ministry.

Excise collections fall short

The data available with the Finance Ministry showed that customs duty collections during 2005-06 surpassed the revised estimates (Rs 64,215 crore) to touch Rs 65,250 crore. Excise duty collections for the period under review stood at Rs 1,10,800 crore, lower than the revised estimate of Rs 1,12,000 crore. Service tax collections are expected to be over Rs 23,000 crore.

While presenting the 2006-07 Budget, the Finance Minister, Mr P. Chidambaram, had scaled down the target for excise duty collections for 2005-06 to Rs 1,12,000 crore against the Budget estimate of Rs 1,21,533 crore. The customs duty collection target was increased to Rs 64,215 crore from the Budget estimate level of Rs 53,182 crore.

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