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Indirect tax collections grow 37% in April-Jun

By Religare
|

Government has said that India's indirect tax collection surged 37 per cent to nearly Rs 154,000 crore in the April-June quarter over the last year, on the back of a significant rise in excise collections, said an official statement.

"Indirect taxes in the first quarter (April-June) have risen by a phenomenal 37 percent," Finance Minister Arun Jaitley said while requesting the Lok sabha to pass the government's demands for supplementary grants.

 

The collections on this count in the year-ago period were Rs 112,000 crore, the finance ministry said last month.

According to the minister, the situation had created a "revenue buoyancy" permitting more capital expenditure and investment in infrastructure, the minister said.

Jaitley further added that the whopping jump in indirect tax collection figures are signaling recovery in the Asia's third biggest economy.

Story first published: Thursday, August 6, 2015, 23:00 [IST]
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