Indirect tax collections up 4.5% at Rs1,13,570 cr in April-June

The overall indirect tax revenue collections in the country during the first quarter of current fiscal year (April-June 2014-15) increased by 4.5 per cent to Rs1,13,570 crore, from Rs1,08,639 crore collected in the corresponding period of the previous fiscal (April–June 2013-14).

Service tax collections alone during April-June 2014 increased from Rs32,617 crore (April–June 2013) to Rs38,862 crore (April-June 2014).

At Rs1,13,570 crore, overall indirect tax revenue collections during April-June 2014-15 works out to 18.2 per cent of the overall budget estimate of Rs623,244 crore, provisional figures released by the revenue department showed.

Overall indirect tax collections in June increased by 13.5 per cent to Rs44,356 crore from Rs39,085  crore collected in June 2013.

For the April-June quarter customs duty collection was lower by 0.2 per cent at Rs39,549 crore compared to the Rs40,796 crore collected in the previous year period. Collection during the quarter formed 19.6 per cent of the budget estimates for the 2014-15 fiscal.

Customs revenue, however, grew 6 per cent in June to Rs14,308 crore against Rs13,494 crore received in June 2013.

Collection of central excise duty during April-June 2014-15 was lower by 3.1 per cent at Rs35,159 compared to the Rs40,796 crore collected in the previous year. Collection during the quarter formed 17.1 per cent of the budget estimates for the 2014-15 fiscal.

Excise collection grew 8.1 per cent in June to Rs14,666 crore against Rs13,566 crore received in June 2013.

Service tax collection for the April-June quarter was lower by 3.1 per cent at Rs32,617 crore against Rs38,862 crore collected in the previous year quarter. Collection during the quarter formed 17.1 per cent of the budget estimates for the 2014-15 fiscal of Rs201,819 crore for the 2014-15 fiscal.

Service tax collection saw a steep increase of 27.9 per cent to Rs15,382 in June 2014, from Rs12,025 crore collected in June 2013.