Indirect tax collections up 4.6% in April-August

Indi­rect tax col­lec­tion increased by 4.6 per cent in the April-August peri­od of this fis­cal, while cus­toms duty and excise duty col­lec­tions rose mar­gin­al­ly. Indi­rect tax col­lec­tions com­pris­ing excise, cus­toms and ser­vice tax stood at Rs 1,94,492 crore in the first five months of 2014–15 fis­cal as against Rs 1,85,881 crore in the cor­re­spond­ing peri­od of last year.

The growth at 4.6 per cent is far less than 25 per cent annu­al increase set in the Bud­get for the full 2014–15 fis­cal. Excise col­lec­tion rose mar­gin­al­ly 0.5 per cent dur­ing the peri­od to over Rs 61,415 crore. Cus­toms also rose mar­gin­al­ly by 0.3 per cent to over Rs 71,207 crore dur­ing the peri­od against Rs 70,999 crore in the same peri­od last year. Ser­vice tax col­lec­tion, which has become a new focus area for rev­enue offi­cials, grew by 15.1 per cent to Rs 61,870 crore dur­ing the period.

The indi­rect tax col­lec­tion tar­get for 2014–15 fis­cal stands at Rs 6.24 lakh crore. Indi­rect tax col­lec­tion in the month of August grew by 9 per cent to Rs 40,644 crore. Excise duty increased in month of August by 8 per cent to Rs 13,782 crore, where­as cus­tom duty col­lec­tion grew by 9.9 per cent to Rs 15,902 crore. Ser­vice tax increased in August grew by 9 per cent to Rs 10,960 crore against Rs 10,059 crore in the same month last year.

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