The Hindu Business Line : Excise revenue rises 14% in Oct

New Delhi, Nov. 14 The Centre’s excise duty collections grew 14 per cent on a year-on-year basis in October 2007 at Rs 10,293 crore, from Rs 9,066 crore during the same month the previous year. Customs duty collections remained buoyant and were up 25 per cent during October this year at Rs 9,353 crore, from Rs 7,503 crore during the same month the previous year, an official release said.

Excise duty collections during the first seven months of the current fiscal stood at Rs 64,948 crore against Rs 60,401 crore registered during the same period a year ago, an increase of 8 per cent. Customs duty collections rose 17.4 per cent to Rs 57,833 crore during the period against Rs 49,276 crore during the same period a year ago. For fiscal 2007-08, the budget estimate for excise duty collections has been pegged at Rs 1,30,220 crore while customs duty collections has been estimated at Rs 98,770 crore.

Excise collections for the first seven months, thereby, translate to 50 per cent of the budgeted amount while customs revenues are around 59 per cent of the budgetary estimates so far.

Tax revenue from the customs and excise levies cumulatively for the April-October period this fiscal rose 12 per cent at Rs 1,22,781 crore against Rs 1,09,677 crore.

Service tax collections were up 36.8 per cent to Rs 21,891 crore during April-September 2007 (the period for which collection data is now available), against Rs 15,997 crore during the corresponding period last fiscal.

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