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Rediff.com  » Business » Indirect tax collections up 6.2% in Apr-Dec

Indirect tax collections up 6.2% in Apr-Dec

January 19, 2014 11:04 IST

TaxAmid slowing economy, indirect tax collections grew by 6.2 per cent in the April-December period of this fiscal.

Total collection of indirect taxes -- excise, customs and service tax -- stood at about Rs 3,55,003 crore (Rs 3,550.03 billion) during the first nine months of 2013-14 as against Rs 3,34,309 crore (Rs 3,343.09 billion) in the year-ago period, sources in the Finance Ministry said.

Excise collection dropped 4.5 per cent during the period to Rs 1,18,405 crore (Rs 1,184.05 billion), against Rs 1,24,016 crore (Rs 1,240.16 billion) in the same period in the last fiscal year, reflecting slump in manufacturing activity.

Customs mop-up was higher by 6.7 per cent to Rs 1,26,285 crore (Rs 1,262.85 billion) during the period, against Rs 1,18,393 crore (Rs 1,183.93 billion) in the same period last fiscal, sources said.

Service tax collection, which has become a new focus area for revenue officials, grew by 20 per cent to Rs 1,10,313 crore (Rs 1,103.13 billion) in April-December against Rs 91,900 crore (Rs 919 billion) in the same period last fiscal.

Total indirect collection in the month of December grew by 16.6 per cent to Rs 48,004 crore (Rs 480.04 billion) against Rs 41,166 crore (Rs 411.66 billion) in the same month last fiscal.

Service tax collection last month grew by 45.6 per cent at Rs 18,196 crore (Rs 181.96 billion), against Rs 12,453 crore (Rs 124.53 billion) in the same period last fiscal year.

Custom mop-up in the month of December stood at Rs 14,441 Crore (Rs 144.41 billion), whereas Central Excise collection during the period stood at Rs 15,367 crore (Rs 153.67 billion).

The government has set indirect tax collection target of Rs 5.65 lakh crore (Rs 5.65 trillion) for 2013-14, as compared to Rs 4.73 lakh crore (Rs 4.73 trillion) achieved in the last fiscal.

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