The Hindu Business Line : Indirect tax mop-up in Mumbai may rise 31% this fiscal

Sounding upbeat: Mr P.C. Jha, Chairman, Central Board of Excise and Customs, addressing a meeting of “Indirect Tax Issues and the Dispute Resolution Scheme” organised by the Indian Marchants Chamber in Mumbai on Saturday. –

Our Bureau

Mumbai, July 12 Indirect tax collections – customs and excise duties and service tax – from Mumbai are set to increase by 31 per cent in 2008-09 aided by enhanced service tax collections from the State.

The projected indirect tax collections from Mumbai stand at Rs 84,890 crore, against Rs 64,899 crore collected in 2007-08, said Mr P.C. Jha, Chairman, Central Board of Excise and Customs.

Though collection from custom duties constitutes almost half of the total indirect tax collections from Mumbai, it is the service tax component that is growing rapidly.

service tax collections

The service tax collections from Mumbai are expected to increase by 51 per cent to Rs 26,150 crore in 2008-09, against Rs 17,314 crore collected in the last fiscal, Mr Jha added.

The collection from custom duties is projected to increase by 21 per cent to Rs 41,740 crore (Rs 34,395 crore) with the excise duties collections expected to reach Rs 17,000 crore in 2008-09.

Mumbai’s share in total indirect tax collections is expected to increase to 27 per cent in the current fiscal, compared to 23 per cent in the previous fiscal.

The country’s total indirect tax collections for 2008-09 is projected to increase by 14 per cent at Rs 3,20,000 crore with custom duties contributing Rs1,18,930 crore, excises duties Rs 1, 36,610 crore, and the remaining Rs 64, 460 from service tax collections.

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