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 Indirect Tax collections up

Indirect tax refunds at Rs 43,409 cr in Apr-Feb
March, 20th 2014

The revenue department refunded Rs 43,409 crore in customs, excise duty and service tax refunds in April-February this fiscal, which was 27.4% higher than that in the same period last year, the government said today.

The department had refunded Rs 37,049 crore in the same period of 2012-13.

Service tax refund was at Rs 2,111 crore during the period under review this fiscal, against Rs 1,328 crore in the year-ago period. Custom tax refund was also higher at Rs 18,144 crore this fiscal, against Rs 14,867 crore last year, according to a Finance Ministry's release.

Central excise duty refund in April-February FY14 was 19.5% higher at Rs 23,154 crore compared to Rs 17,884 in the same period of last fiscal.

Government's indirect tax collection target for 2013-14 is Rs 5.19 lakh crore as per the Revised Budget Estimate.

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