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CBEC hopeful of meeting indirect tax targets
December, 06th 2011

The Central Board of Excise and Customs (CBEC) today expressed confidence over meeting the indirect tax collection target for 2011-12.

The 7.5 per cent GDP growth expected this year would be good enough to help achieve the target, the CBEC Chairman, Mr S.K. Goel, said.

I am an optimist. I am not worried. The Finance Minister has said that we are expecting 7.5 per cent GDP growth I think this should take care of our (indirect tax) targets, he told reporters on the sidelines of CII event here on Monday.

The Centre's indirect tax collections grew 18.5 per cent in April-October 2011 to Rs 2.21 lakh crore, which is about 55 per cent of the Budget target. The indirect tax collection target has been pegged at little over Rs 4 lakh crore for 2011-12.

The recent slowdown in economic growth had raised concern about likely fall in indirect tax collections. Indian economy grew 6.9 per cent in second quarter this fiscal, the slowest quarterly growth recorded in last two years.The Central Board of Excise and Customs (CBEC) today expressed confidence over meeting the indirect tax collection target for 2011-12.

The 7.5 per cent GDP growth expected this year would be good enough to help achieve the target, the CBEC Chairman, Mr S.K. Goel, said.

I am an optimist. I am not worried. The Finance Minister has said that we are expecting 7.5 per cent GDP growth I think this should take care of our (indirect tax) targets, he told reporters on the sidelines of CII event here on Monday.

The Centre's indirect tax collections grew 18.5 per cent in April-October 2011 to Rs 2.21 lakh crore, which is about 55 per cent of the Budget target. The indirect tax collection target has been pegged at little over Rs 4 lakh crore for 2011-12.

The recent slowdown in economic growth had raised concern about likely fall in indirect tax collections. Indian economy grew 6.9 per cent in second quarter this fiscal, the slowest quarterly growth recorded in last two years.

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