Industry & Economy
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Excise and Customs
Excise, customs duty collections rise in Q1
Our Bureau
New Delhi
,
July 11
The Centre's excise duty collections recorded 8.1 per cent growth in the first quarter of the current fiscal to touch Rs 23,560 crore compared with Rs 21,791 crore in the same period last year.
Customs duty collections continued to be buoyant and recorded 34 per cent increase at Rs 19,638 crore during April-June 2006 compared with Rs 14,655 crore in the same period last year.
In fiscal 2006-07, the Government plans to mobilise Rs 1,19,000 crore through excise duty. This budget estimate represents a 6.25 per cent increase over the revised estimate of Rs 1,12,000 crore for 2005-06.
On the customs duty front, the Centre has budgeted collections of Rs 77,066 crore for fiscal 2006-07 against revised estimate of Rs 64,215 crore.
A Finance Ministry release said that excise duty collections increased by 5.4 per cent in June 2006 to Rs 8,899 crore against Rs 8,442 crore in the same month last year.
Customs duty collections increased by 42 per cent in June 2006 to touch Rs 7,039 crore (Rs 4,956 crore).
Service tax
Meanwhile, the Centre's service tax collections increased by 58.2 per cent during April-May 2006 to Rs 4,102 crore against Rs 2,593 crore. The Centre collected service tax of Rs 2,126 crore in May 2006 against Rs 1,353 crore in the same month last year.
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