Customs duty collection falls 8.8% to Rs 11,594 crore in April
May, 25th 2012
Customs duty collection declined by 8.8 per cent to Rs 11,594 crore in April this year because of the cut in the duty on petroleum products last year and duty drawback outgo.
Collections from customs duty was Rs 12,714 crore in the same period last fiscal, as per official figures.
"For fall in customs duty collections, there are 2-3 reasons like cut in duty on petroleum products. The revenue is not there like last year. (Also) we have given more drawbacks in April, this year, compared to last year by about Rs 500 crore," Central Board of Excise and Customs (CBEC) Chairman S K Goel told reporters here.
"Also, there was a strike on account of jewellery gold imports which also affected collections in the month of April," he added.
Collection of indirect taxes jumped by 10.4 per cent to Rs 33,045 crore in April on the back of increase in excise duty and service tax rates.
The indirect tax -- excise duty, customs and service tax -- collection had totalled Rs 29,936 crore in April 2011.
Giving break up of tax collection, Goel said the excise duty mop in April was Rs 12,605 crore against Rs 10,698 crore in the same month last year.
Similarly, service tax collection was up at Rs 8,846 crore against Rs 6,524 crore in April 2011.
April tax collection was affected as the government had slashed excise duty and customs on petroleum products in June 2011 to cushion impact of the hike in prices of diesel, kerosene and LPG.
The government has increased both the excise duty and service tax by two per cent each to 12 per cent in the Budget.
Further, Goel said total indirect tax collection in the 2011-12 fiscal was 14 per cent higher at Rs 392,781 crore on the back of a healthy growth in service tax and customs duty collections. The figure was Rs 343,705 crore in 2010-11.
During 2011-12, the customs duty collection grew by 11 per cent to Rs 150,666 crore, while central excise increased 5.6 per cent from Rs 137,029 crore to Rs 144,726 crore.
Service tax collections showed a growth of 37.4 per cent, rising from Rs 70,896 crore to Rs 97,389 crore.
The indirect tax mop in 2011-12 at Rs 3,92,781 crore was 99.6 per cent of the Budget Estimate.