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Indirect Tax collection up 13.8%

PTI New Delhi | Updated on July 18, 2012 Published on July 18, 2012

Indirect tax collections during the April—June period rose by 13.8 per cent to over Rs 1.07 lakh crore, slower than the targeted 27 per cent growth for the entire fiscal.

“In the April—June quarter with a receipt of Rs 1,07,959 crore, we have achieved a growth of 13.8 per cent over Rs 94,849 crore collection in the corresponding period last year,” Central Board of Excise and Customs (CBEC) Chairman, Mr S K Goel, told reporters here.

In the June quarter of current fiscal, the collection from Customs rose 12.2 per cent to Rs 38,744 crore. Revenue mop up from excise duty was also up by 29.8 per cent at Rs 41,147 crore.

Service Tax collection rose by Rs 40.8 per cent to Rs 28,068 crore.

Mr Goel said the collection from customs duty was comparatively less in the June quarter mainly of account of higher duty drawbacks given in the first two months. “In the coming months, we expect a pick up in collection from customs,” he said.

For the month of June, indirect tax collection grew by 14.8 per cent to Rs 37,748 crore. While collections from customs duty stood at Rs 13,284 crore, excise mop up during the month stood at Rs 13,849 crore. Besides, service tax collection was at Rs 10,615 crore.

The government has fixed indirect tax—— comprising customs, excise and service tax—— collection target at Rs 5.05 lakh crore for the current fiscal, an increase of about 27 per cent from 2011—12 target.

The indirect tax mop up in 2011—12 at Rs 3,92,781 crore was 99.6 per cent of the Budget Estimate.

The gross direct tax collections in the April—June period grew by 6.77 per cent to Rs 1.11 lakh crore, less than the targeted annual growth of 15 per cent.

Published on July 18, 2012
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