Comments
With just 20 days for the fiscal year to end, the Centre is betting big on a surge in economic activity to help achieve the revised target on indirect taxes.
Till end February this fiscal, the Centre had achieved 88.5 per cent of the revised target fixed for 2014-15. The Centre’s indirect tax revenues grew 8.4 per cent in April-February 2015 to ₹4.79 lakh crore (₹4.42 lakh crore), official data released on Wednesday showed.
Customs collections for the period under review increased 8.2 per cent to ₹1.71 lakh crore (₹1.58 lakh crore). This reflects achievement of 90.6 per cent of the revised target fixed for 2014-15. On the excise front, revenue collections grew 9.4 per cent to ₹1.63 lakh crore (₹1.49 lakh crore), which reflects 88.5 per cent of the revised target for this tax head in 2014-15.
Service tax collections grew 8.2 per cent at ₹1.45 lakh crore (₹1.34 lakh crore), representing 86.2 per cent of the revised target for this tax head in 2014-15.
In February, excise collections grew whopping 36.5 per cent to ₹22,123 crore (₹16,213 crore).
While customs collections grew 3.9 per cent to ₹15,695 crore (₹15,109 crore), service tax collections grew 3.5 per cent to ₹12,646 crore (₹12,221 crore).
Total indirect tax revenues grew 15.9 percent in February 2015 to ₹50,464 crore (₹43,543 crore).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.