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« Slowdown in FCCB issues likely...	Customs, excise duty collections up 18% for Q1... »
Indirect tax mop-up in Q1 rises 18.5%

July, 12th 2006
Despite a buoyant economy, excise duty collections by have grown by only 8.1% in the first quarter of 05-06. The Union Budget had, however, estimated that excise duties will grow in this fiscal by only 6.25%. The total indirect tax collections of the Centre have increased by 18.5% during the first quarter (April-June 06) to Rs 43,199 crore, as against Rs 36,446 crore in the corresponding period of the previous year. Collections from customs has shown an increase of 34%, while those from service tax (figures for which are available upto May 06) showed an increase of whopping 58.2%. Customs collection for the quarter under consideration stood at Rs 19,638 crore as compared with Rs 14,655 crore in the same period of last fiscal. The government collected Rs 23,560 crore excise in April-June 06 as against Rs 21,791 crore in the same period previous year. Service tax collections for the first two months of the fiscal (April-May, 06) has gone upto Rs 4102 crore, as against Rs 2593 crore in the corresponding period previous year.