Customs and central excise revenue collections have increased 58 per cent
October, 07th 2010
Customs and central excise revenue collections in the Visakhapatnam zone have increased 58 per cent during April-August 2010 compared with the corresponding period last year. Revenue collection in the customs division alone increased 140 per cent during the same period.
The Visakhapatnam zone covers Andhra and Rayalaseema areas.
During the five-month period our total collection (customs, central excise and service tax) stood at Rs 4,929 crore as against Rs 3,111 crore, Chandrahas Mathur, chief commissioner, Customs and Central Excise, told mediapersons here on Wednesday.
Stating the reasons for the increase, he said the Centre had reduced the stimulation package to industries, announced in the earlier Budget and imposed a 5 per cent duty on crude oil.
Besides, the overall economic situation has improved resulting in the higher revenue collection.
Activities in Visakhapatnam, Gangavaram, Kakinada and Krishnapatnam ports increased significantly adding to customs revenue, which during the period was Rs 2,025 crore as against Rs 844 crore, a growth of 140 per cent.
Central excise revenues increased Rs 2,623 crore during this same period as against Rs 2,004 crore in the previous year, up 31 per cent. In the service tax segment, the zone registered 7 per cent growth by collecting Rs 281 crore.
The department collected about Rs 15 crore from tax evaders during the past five months, he said.
During the current financial year, the zone has targeted to collect Rs 11,325 crore as against Rs 8,666 crore in the previous year. The government has increased our tax collection targets by 30 per cent in 2010-11 compared with last fiscal, Mathur said.