Indirect tax mop-up rises to 42.4 percent
By IANSTuesday, November 16, 2010
NEW DELHI - Collections from indirect taxes that include customs, central excise and service tax, soared to 42.4 percent in April-October period year-on-year, official data showed Tuesday.
Total revenue collections from the indirect taxes during April-October 2010 stood at Rs.1,80,261 crore, which is 57.5 percent of the budget estimates for 2010-11, according to data released by the finance ministry.
Customs duties led the high growth in overall indirect tax collection. During the first seven months of current fiscal, collections from customs duties rose to Rs.75,349 crore, 65.9 percent higher than the collections during the corresponding quarter in the previous fiscal.
Revenue collections from central excise was to the tune of Rs.71,078 crore during April- October period, 36.2 percent increase year-on-year while collections from service tax rose to 16.9 percent to Rs.33,833 crore during the period under review.
