Indirect tax revenue surges 37% to Rs.2.1 lakh crore in Apr-July period

 Source: PTI

Indirect tax revenue jumped over 37% to over Rs.2.1 lakh crore during April-July period of current fiscal, on the back of higher excise collections. The indirect tax collections were at Rs.1.53 lakh crore during the similar period of the previous fiscal, a finance ministry statement said on Tuesday. In July 2015-16, the indirect tax collections grew by 39.1% from a year ago period to Rs.56,739 crore. “Indirect tax revenue collections have increased from Rs.40,802 crore in July 2014 to Rs.56,739 crore during July, 2015. “Thus an increase of 39.1% has been registered during July-2015 over the corresponding period in the previous year. This is an achievement of 32.6% of the target fixed for BE 2015-16 Rs.64,6267 crore,” said the release. During April-July, the excise collections jumped by 75.4% to Rs.83,454 crore. While, revenues from service tax rose by 20.1% to Rs.60,925 crore, and that from customs duty jumped by 21% to Rs.66,076 crore. Month-wise, in July the central excise collections jumped by 64.8% to Rs.22,273 crore; customs duty rose by 23.2% to Rs.18,996 crore while service tax revenues were up by 30.3% to Rs.15,470 crore, showed the government data.    

August 11, 2015 | 6:19pm IST.