The Hindu Business Line : Excise collections up 7.2% in September

The Centre’s excise duty collections grew 7.2 per cent on a year-on-year basis in September 2007 at Rs 10,186 crore as compared to collection level of Rs 9,498 crore recorded in the same month last year.

The collection performance in September 2007 was, however, higher than the Rs 9,898 crore collected in August 2007. In the first half of the current fiscal, the Centre’s excise duty collections have grown 6.5 per cent to Rs 54,654 crore (Rs 51,334 crore).

For fiscal 2007-08, the budget estimate for excise duty collections has been pegged at Rs 1,30,220 crore. Achieving budget estimate for 2007-08 might be a difficult task if the performance so far is any sign, say industry observers.

Customs duty up

Meanwhile, the Centre’s customs duty revenues continue to be buoyant, with collections in April-September 2007 recording 16.1 per cent increase to Rs 48,480 crore (Rs 41,773 crore). The customs duty collections in September 2007 stood at Rs 7,975 crore, up from Rs 7,604 crore collected in the same month last year.

For 2007-08, the Centre has budgeted customs duty collection at Rs 98,770 crore, which is about 28 per cent higher than the budget estimate of Rs 77,066 crore for 2006-07.

An official release said that the service tax collections during April-August 2007, which is the period for which collection data is now available, increased by 35.4 per cent to Rs 16,867 crore as compared to Rs 12,459 crore in the same period last year. Service tax collections in August 2007 stood at Rs 3,219 crore, representing 23.3 per cent increase over Rs 2,610 crore collected in same month last year.

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