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« Indirect Tax »
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45 Per Cent Growth in States Indirect Taxes
March, 17th 2016

Collection of indirect taxes including Central Excise, Customs and Service Tax in Odisha has posted a 45 per cent growth upto February, 2016 over the corresponding period of 2014-15 fiscal.

Given a target of Rs 11,420 crore for the current fiscal, revenue realisation across Excise, Customs and Service Tax has been to the tune of Rs 10,695 crore as on February 29, 2016. During the corresponding period of last fiscal, collection was around Rs 7,351 crore. The collection would surpass the target by the end of March or close of the current financial year, Commissioner Deep Sekhar said on Tuesday.

Central Excise collections have touched Rs 6,454 crore by February-end against a target of Rs 6,800 crore for the fiscal. The collections have surpassed the corresponding period of last year’s figures by Rs 2,250 crore posting a growth of 54 per cent.

In terms of Customs, there has been a 46 per cent growth over the corresponding period of last year upto February-end with collections reaching Rs 2,259 crore against a target of Rs 2,300 crore. Revenue realisation has been Rs 715 crore higher than last year.

Service Tax collections have also seen an upsurge, surpassing last February collections by Rs 379 crore at 24 per cent growth. Against a target of Rs 2,320 crore for 2015-16 fiscal, collections have touched Rs 1,982 by February-end.

In the face of nationwide strike by jewellers against imposition of excise duty on gold ornaments, the Department sought to allay fear of harassment of the merchants and manufacturers owing to the levy. There would be zero interface with Department officers. Central Excise officers have been directed not to visit the premises of any jewellery manufacturer. All procedures from application of registration, payment of duty and filing of returns will be online, Commissioner SG Dewalwar said.

“The move will facilitate easy transition to the GST regime which is expected to materialise soon. There will be absolutely no harassment and it will work on voluntary compliance by the jewellers,” he said.

However, the All India Gems and Jewellery Trade Federation has stuck to its demand for rollback of the levy. “We have demanded increase in other taxes like import duty and withdrawal of excise levy and it continues,” Federation founding member Mitesh Khimji said.

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