Indirect tax mop up grows 26% to Rs 4.08 lakh crore in Apr-Sept
Indirect tax collections during the first half of the current fiscal grew 25.9 per cent to Rs 4.08 lakh crore mainly on account of 46 per cent jump in excise duty mop up.
New Delhi: Indirect tax collections during the first half of the current fiscal grew 25.9 percent to Rs 4.08 lakh crore mainly on account of 46 percent jump in excise duty mop up.
The net indirect tax collection in the April-September period accounts for 52.5 percent of the Budget 2016-17 estimates.
A finance ministry statement said net tax collections of central excise jumped 46.3 percent to Rs 1.83 lakh crore during April-September, as compared to Rs 1.25 lakh crore in the year-ago period.
Net service tax mop up during April-September grew 22.1 percent to Rs 1.16 lakh crore, compared to Rs 95,780 crore during the 6-month period of last fiscal.
Net customs duty collection during the six month period of 2016-17 stood at Rs 1.08 lakh crore as compared to Rs 1.03 lakh crore, a growth of 4.8 percent.
Government hopes to collect Rs 8.47 lakh crore from direct taxes and Rs 7.79 lakh crore from indirect taxes, which includes customs, excise and service tax, in 2016-17.
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