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Indirect Tax Collection Up 32.6 Per cent To Rs 61,284 Crore
Indirect Tax Revenue collections increased by 32.6% from Rs 46,224 crore in September 2014 to Rs. 61,284 crore during September- 2015. This is an achievement of 50.6% of the target fixed for BE 2015-16.
Indirect tax is a tax which is levied on the end user on executing some taxable transaction such as the purchase of goods and service.
The burden of indirect tax befalls all individuals irrespective of their economic status
Taxes such as central excise, customs duty, sales tax, service tax, value added tax (VAT) and professional tax falls under indirect taxes.
Central Excise collections have increased from Rs. 13,356 crore in September 2014 to Rs. 22,489 crore during September 2015 thus registering an increase of 68.4%. This is an achievement of55.0% of the target fixed at BE 2015-16.
Service Tax collections have increased from Rs 15,158 crore in September 2014 to Rs 20,483 crore during September 2015 registering an increase of 35.1%. This is an achievement of 45.5%of the target fixed at BE 2015-16.
Customs collections have increased from Rs 17,710 crore in September 2014 to Rs 18,312 crore during September 2015 registering an increase of 3.4%. This is an achievement of 49.7% of the target fixed for BE 2015-16.
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