April-November indirect tax collections rise 7.1% to Rs3,28,662 crore
12 Dec 2014
Indirect tax revenue collections of the government stood at Rs3,28,662 crore during April-November 2014, showing an increase of 7.1 per cent from Rs3,06,814 crore in April-November 2013.
However, excise collections, which are an indication of economic activity, declined by 0.2 per cent during the eight-month period to Rs1,02,762 crore, provisional figures released by the revenue department showed.
Service tax collections have increased to Rs1,02,592 crore during April-November 2014 from Rs91,982 crore in April-November 2013, showing an increase of 11.5 per cent. This marks an achievement of 47.5 per cent of the target fixed in the budget estimates for 2014-15.
Customs duty collections increased by 10.2 per cent to Rs1,23,308 crore during April-November 2014 from Rs1,11,844 crore during April-November 2013, an achievement of 61.1 per cent of the target fixed for 2014-15.
Total indirect tax collection in November stood at Rs44,060 crore.
Total indirect tax collections so far this fiscal (April-November 2014) have been 52.7 per cent of the budget target of 2014-15, according to the official release.
The government has budgeted to collect over Rs6.24 lakh crore from indirect taxes in the current fiscal, a 20.28 per cent increase over the collection in 2013-14.
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