Indirect tax mop-up surges 44.4 Percent in six months
Friday, October 15, 2010
The Economic Times
Indirect tax mop-up surges 44.4% in six months
Indirect tax collection rose 44.4 percent to Rs 1,50,686 crore in the first six months of the current fiscal, led by an almost 67 percent increase in revenue from customs duties.
Revenue collections from customs increased to Rs 63,229 crore during April-September period, which is 66.8 percent more than the collection during the corresponding period last year, according to data released by the finance ministry .
Collections from central excise duties rose 40.7 percent to Rs 60,834 crore during the first six months of fiscal 2010-11 while revenue from service tax increased 14.8 percent to Rs 26,623 crore.
During the first half of this year, collections from indirect taxes, which include, customs, central excise and service tax, account for 48.1 percent of total indirect tax collection target in the current fiscal.
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