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« Indirect Tax »
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India Apr-Jul indirect tax receipts down 28 pct
September, 09th 2009

India's indirect tax receipts fell 28 percent in the April-July due to duty cuts and falling imports, but the government hopes to meet the annual target, the finance minister said on Tuesday.

The July budget estimated 2.69 trillion rupees from indirect taxes that includes excise, customs and service tax.

"A matter of worry is that indirect tax receipts during 2009/10 (up to July 2009) have shown a negative growth of 28 percent as compared to the last year," Pranab Mukherjee told a conference of tax officials.

According to tax collection figures posted on the government website last month, indirect tax receipts stood at 591.1 billion rupees in the first four months of FY10, as against 796.6 billion rupees in the corresponding period in FY09.

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