Indirect tax collections up 6.2% in Apr-Dec

Tags: Economy
Amid slowing economy, indirect tax collections grew by 6.2% in the April-December period of this fiscal.

Total collection of indirect taxes - excise, customs and service tax - stood at about Rs 3,55,003 crore during the first nine months of 2013-14 as against Rs 3,34,309 crore in the year-ago period, sources in the Finance Ministry said.

Excise collection dropped 4.5% during the period to Rs 1,18,405 crore, against Rs 1,24,016 crore in the same period in the last fiscal year, reflecting slump in manufacturing activity.

Customs mop-up was higher by 6.7% to Rs 1,26,285 crore during the period, against Rs 1,18,393 crore in the same period last fiscal, sources said.

Service tax collection, which has become a new focus area for revenue officials, grew by 20% to Rs 1,10,313 crore in April-December against Rs 91,900 crore in the same period last fiscal.

Total indirect collection in the month of December grew by 16.6% to Rs 48,004 crore against Rs 41,166 crore in the same month last fiscal.

Service tax collection last month grew by 45.6% at Rs 18,196 crore, against Rs 12,453 crore in the same period last fiscal year.

Custom mop-up in the month of December stood at Rs 14,441 crore, whereas Central Excise collection during the period stood at Rs 15,367 crore.

The government has set indirect tax collection target of Rs 5.65 lakh crore for 2013-14, as compared to Rs 4.73 lakh crore achieved in the last fiscal.

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