Indirect tax collections up 6.2% in Apr-Dec

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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • By standing up for its priorities at WTO, India has saved its farmers

    Narendra Modi has demonstrated his global priorities during his short stint in power by engaging Pakistan and China on the need to mend fences with In

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Dealing with a sin called insensitivity

Rage and the notion of being above the law — ...

Purnendu Ghosh

Avoiding utopian or dystopian extremes

One must know the known in order to know the ...

Shona Adhikari

The tormented founding father of modern art

The subject for today’s art column has been triggered by ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture