Indirect Tax Collection Surges 41 Per cent In April

Posted By: Religare
Subscribe to GoodReturns

Indirect tax collections witnessed an increase of 41 per cent to Rs 64,394 crore mainly on the account of spurt in central excise realisation.

Revenue Secretary Hasmukh Adhia said excise duty mop up in April spurt by 70 per cent to Rs 28,252 crore as against Rs 16,546 crore in the year-ago month.

Indirect Tax Collection Surges 41 Per cent In April

"Provisional revenue figures for indirect tax for April 2016 are Rs 64,394 crore, a 41 per cent growth over April 2015 of Rs 45,417 crore," Adhia tweeted.

He further said that after discounting for the additional resource mobilisation measures taken in the Budget, the growth in indirect tax collection was 17 per cent in April.

As regards collection of customs duty, Adhia said there was 22 per cent increase to Rs 17,945 crore in April, as against Rs 14,286 crore in the same month a year ago.

Besides, service tax collections grew by 27 per cent to Rs 18,647 crore in April 2016, as against Rs 14,585 crore in the same month last fiscal.

Mop up through indirect tax, which includes customs, excise duties and service tax, is budgeted at over Rs 7.79 lakh crore in the current fiscal.

Dion Global Solutions

Read more about: indirect tax
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns