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Gross direct tax collections up 23 % in first-half
October, 10th 2011

In tune with the slowdown coupled with the cut in duties on petroleum products, customs and central excise collections declined during September this year even as the total indirect tax mop-up during the month was 1.2 per cent higher at Rs.28,510 crore.

According to official data, while the revenue mop-up through customs duty slipped by 10.9 per cent to Rs.10,126 crore, excise duty collection eased marginally by 0.3 per cent to Rs.11,417 crore. What made up for the slippage in revenue collection was service tax which went up by 29.6 per cent to Rs.6,967 crore from Rs.5,374 crore garnered during September 2010.

As for direct taxes, the gross mop-up was 23 per cent higher at Rs. 2,57,042 crore in the first-half of 2011-12 against Rs.2,08,971 crore garnered during the same period last fiscal, mainly on account of higher corporate tax realisation during the first quarter.

However, after refunds, the net direct tax collections was only about 7 per cent higher at Rs.1,94,812 crore during the April-September period of the current fiscal as compared to Rs.1,81,758 crore mopped up during the same six months of in 2010-11.

It may be recalled that when raising prices of diesel and cooking gas in June this year, the government had reduced the customs and excise duties on crude oil and other products.

While the step was aimed at providing some relief to the common man from the hike in prices, it meant foregoing about Rs.49,000 crore in annual revenue.

As per the data, the total indirect tax collection during the first six months this fiscal (April-September) add up to Rs.1.69-lakh crore, which is about 20.8 per cent higher than the mop-up in the same period in 2010-11.

While customs duty collection during the two quarters was 20 per cent higher at Rs.73,247 crore, the revenue realisation through excise was 14 per cent more at Rs.58,964 crore. Service tax collection totalled Rs.36,459 crore, marking a hefty increase of 35.6 per cent.

Evidently, the impact of the slowdown, following a deceleration in industrial growth to 3.3 per cent in July, was pronounced during the second quarter (July-September) of the fiscal year.

The gross mop-up through corporate taxes was Rs.1,75,360 crore during the first-half which is an increase of 23.17 per cent when compared to with Rs.1,42,368 crore garnered during the same period in 2010-11. Likewise, personal income tax collection was 22.65 per cent higher at Rs.81,353 crore against Rs.66,330-crore in the previous fiscal.

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