Indirect tax collection jumped 15.1 per cent year-on-year in the April-January period to Rs 3,17,233 crore lakh crore while the total collection customs, excise and service for January was up 7.2 per cent.
Excise duty collection for January contracted by 1.1 per cent at Rs 12,319 crore as against Rs 12,458 crore during the same month last fiscal. Customs collection grew by only 2.5 per cent during the month at Rs 11,393 crore as against Rs 11,117 crore.
During the April-January period, while customs stood at Rs 1,24,063 crore, central excise collection was up 6.8 per cent at Rs 1,17,730 crore and service tax grew by 36.9 per cent at Rs 75,440 crore. Overall, the indirect tax collection achieved 80.74 per cent of the budget estimate of Rs 3.98 lakh crore.
On the direct tax front however, the picture is dismal. The net direct tax collection grew by only 9.28 per cent during the April-January period, clearly indicating that the budgetary target for the fiscal is likely to be missed. Net direct tax collections stood at Rs 3,46,959 crore, up from Rs 3,17,500 crore in the same period last fiscal.
Gross direct tax collection during the period was up by 14.57 per cent at Rs 4,25,274 crore as against Rs 3,71,188 crore in the same period last fiscal.