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Indirect tax collection touches a new high
October, 20th 2010

Indirect tax collection figures have touched a new high in Andhra Pradesh with the Central Excise department reporting a 56 per cent growth in tax collections in the April-September period of the year 2010 as compared to the same period last year. It has also seen a growth of 19 per cent in service tax collection and 28 per cent in customs in the state.

The indirect tax kitty comprises customs, central excise and service taxes.

Significantly, there has been an overall increase in indirect tax collection at the centre. The customs wing has recorded a collection of Rs 63,229 crore while for the central excise wing, the figure stands at Rs 60,834 crore.

Service tax wing has also seen a significant growth of 14.8 per cent in the April-September fiscal to stand at Rs 26,623 crore.

The figures were revealed by A P Varma, chief commissioner of customs, central excise and service tax, Hyderabad zone during an interactive meeting with stakeholders organised by Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI).

"The growth in all sectors is noteworthy and our efforts are now directed at making the tax-payer happy. We must treat them as our clients and take their problems into consideration," said Varma.

Indirect taxes contribute heavily with an approximate share of 62 per cent of the total tax revenue nationally. At the national level, the indirect revenue collection jumped to Rs 1,50,686 crore, an improvement by 44.4 per cent from the previous year.

According to industry experts, the reason for the significant rise is the strong industrial output growth in the first five months of the 2010-11 fiscal and also a 33 per cent rise in merchandise import figures in the April-August period. Economic recovery for various stakeholders also contributed majorly in recording higher revenue figures in the indirect tax collections.

"To encourage voluntary compliance, the tariff levels should be moderate, the procedures made simple and the cost burden of compliance made minimal. A certainty about the assessment made and duty liability must also be in place to eliminate burden on the assessee," said Shekhar Agarwal, president, FAPCCI.

 
 
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