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Indirect tax collection rises to Rs 1,19,642 cr
BS Economy Bureau in New Delhi
 
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December 10, 2005 13:52 IST

Indirect tax collection grew 16 per cent to touch Rs 1,19,642 crore (Rs 1196.42 billion) during April-November, compared with Rs 1,03,016 crore (Rs 1030.16 billion) in the corresponding period last year.

Revenue department officials said the indirect tax collections were well on their way to achieving the budget target of Rs 1,92,215 crore (Rs 1922.15 billion) for 2005-06, even though there is likely to be a shortfall in the excise collection's target of 1,21,533 crore (Rs 1215.33 bilion).

Customs collection during April-November touched Rs 42,262 crore (Rs 422.62 billion), an increase of over 18 per cent compared with Rs 35,722 crore (Rs 357.22 billion) in the same period in 2004-05.

Service tax collections continued to be buoyant at Rs 11,988 crore (Rs 119.88 billion), against Rs 7,065 crore (Rs 70.65 billion) collected during April-November 2004, an increase of 70 per cent.

However, excise collection continued to be sluggish at Rs 65,392 crore (Rs 653.92 billion), compared with Rs 60,229 crore (Rs 602.29 billion), an increase of only 8.5 per cent.

Officials, however, pointed out that data compiled by the finance ministry showed that excise collection was picking up, averaging around Rs 8,500 crore (Rs 85 billion) per month.

During November, the collection stood at Rs 8,680 crore (Rs 86.80 billion), as against Rs 7,500 crore (Rs 75 billion) in the same period last year.

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