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The Centre has in the nine months April-December 2010, achieved three-fourths of the indirect taxes collection target for 2010-11. At the same stage in the previous year, the Centre had achieved 62 per cent of the collection target for 2009-10.
Overall, indirect tax collections grew 42.8 per cent during April-December 2010, at Rs 2,37,192 crore (Rs 1,66,133 crore). Net indirect tax collections in December 2010, grew 45.9 per cent to Rs 29,437 crore (Rs 20,175 crore), higher than the collection of Rs 27,495 crore in November 2010.
While customs duty collections grew 75.7 per cent in December 2010, to Rs 12,986 crore (Rs 7,391 crore), excise duty collection for the same month grew 29.5 per cent to Rs 11,297 crore (Rs 8,727 crore). Service tax collections grew 27 per cent in December 2010, to Rs 5,154 crore (Rs 4,057 crore).
The Centre has collected more excise duty, customs duty and service tax in absolute terms in December 2010, than in the previous month.
Customs duty collections have been buoyant this fiscal on the back of increased capital goods imports, besides strengthening of international crude oil and commodity prices. Levy of import duty on oil and petroleum products in budget 2010-11 bolstered customs duty collections this fiscal.
The Centre has already achieved 86.8 per cent of the customs duty collection target for 2010-11. On the excise front, the Centre has achieved 71.5 per cent of the budget estimate for 2010-11.
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