India's April-October indirect tax mop-up zooms over 42 per cent to Rs1,80,261 crore
16 Nov 2010
India's revenue collection from indirect taxes, including customs, central excise and service tax, increased 42.4 per cent year-on-year in the first seven months of the current fiscal (April-October 2010-11) over the collection made during the same period in the previous fiscal (April-October 2009-10).
Total revenue collections from indirect taxes during April-October 2010 stood at Rs1,80,261 crore, which is about 57.5 per cent of the budget estimates for the 2010-11 fiscal.
Customs duty had the highest share in the April-October indirect revenue collection with Rs75,349 crore raised during the seven-month period. This is a 65.9 per cent increase from the collection during April-October 2009-10.
Revenue from central excise rose 36.2 per cent to Rs71,078 crore during the April-October 2010 period compared to the collections made in the corresponding period of the previous financial year (April-October 2009-10).
Revenue from service tax stood 16.9 per cent higher at Rs33,833 crore during April-October 2010 compared with the collections made in the corresponding period of the previous fiscal.