Indirect tax collection rose by 25.9% in Sept: FinMin
Till September, 52.5% of the Budget Estimates (BE) of indirect taxes for the current financial year has been achieved, Ministry of Finance said.
As per the Ministry's tweets, the Indirect tax collection (Central Excise, Service Tax and Customs) upto last month shows that net revenue collections are at Rs 4.08 lakh crore which is 25.9% more than the net collections for the corresponding period last year i.e. 2015-2016.
On Central Excise front, the net tax collection stood at Rs 1.83 lakh crore till now in this fiscal (April- September) as compared to Rs 1.25 lakh crore during the corresponding period in the previous financial year, thereby registering a growth of 46.3%, the Ministry added.
Net tax collections on account of Service Tax during April-September, 2016 stood at Rs 1,16,975 crore as compared to Rs 95,780 crore during the corresponding period in the previous fiscal, thus registering a growth of 22.1%.
The net tax collection on account of Customs till now in the current fiscal rose by 4.8% at Rs 1.08 lakh crore as compared to Rs 1.03 lakh crore during the same period last financial year, the Ministry said.