Rise In Indirect Tax Collection Shows Robust GDP Growth: CEA

By Religare
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    The Indian Government has said that the growth in collection of indirect taxes in the first half of the current fiscal shows robust GDP expansion, media reported.

    As per reports, indirect tax collection increased 35.8 per cent in the April-September period of the 2015-16 fiscal to Rs 3.24 lakh crore, hitting more than 50 per cent of the annual target.

    Rise In Indirect Tax Collection Shows Robust GDP Growth: CEA
    Commenting on the issue, Chief Economic Advisor Arvind Subramanian told the media, "Indirect tax growth, 35.8 per cent and 11.5 per cent without new measures. Latter shows tax base-nominal GDP-growth robust."
     

    "The collection also reflects hike in excise duty on diesel and petrol, withdrawal of tax exemptions for motor vehicles, increase in clean energy cess and hike in service tax rate in June," he added.

    As per reports, the Government is planning to collect over Rs 6.47 lakh crore from indirect taxes in the current fiscal, a growth of 18.8 per cent over last fiscal.

    Read more about: gdp
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