Government meets 60.6 per cent indirect tax collection target during April-December
January, 22nd 2015
Government today said it has collected Rs 3.77 lakh crore, or 60.6 per cent, of budget target for indirect tax by December 2014.
The indirect tax revenue collection was Rs 3.54 lakh crore in April-December 2013.
"Thus an increase of 6.7 per cent has been registered during April-December 2014 over the corresponding period in the previous year. This is an achievement of 60.6 per cent of the target fixed for 2014-15 Budget Estimate," the Finance Ministry said in a statement.
Giving details, it said December excise duty collection at Rs 17,450 crore witnessed a jump of 17.2 per cent over the corresponding month of 2013-14 fiscal.
The customs duty mop (at Rs 15,222 crore) was up by 5.4 per cent in December on an annual basis.
On the other hand, the service tax collections shrunk by 5.2 per cent to Rs 16,979 crore in December compared to similar month of the last fiscal. However, during April-December period, it increased 8.7 per cent on annual basis.
Total indirect tax collection in December was Rs 49,651 crore, up 5.1 per cent from Rs 47,235 crore collected in similar month of the last fiscal.
During April-December period of the current fiscal, government has met 68.6 per cent budget target for customs duty collection and 58.3 per cent and 55.3 per cent for central excise and service tax, respectively.