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.

PTI October 10, 2016 19:09:27 IST
Indirect tax mop up grows 26% to Rs 4.08 lakh crore in Apr-Sept

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.

Indirect tax mop up grows 26 to Rs 408 lakh crore in AprSept

Reuters

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.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Will restructure GST, bring 'one tax, minimum tax' if voted to power, says Rahul Gandhi
India

Will restructure GST, bring 'one tax, minimum tax' if voted to power, says Rahul Gandhi

The Congress leader, who began his campaign for the Tamil Nadu assembly polls, also said there was the need to promote MSMEs, to compete with countries like China and Bangladesh

Union Budget 2021: GST continues to be a challenge; govt must make changes to ease compliance burden
Business

Union Budget 2021: GST continues to be a challenge; govt must make changes to ease compliance burden

GST Compensation Cess was introduced for an initial period of five years to compensate states from a revenue shortfall.

Union Budget 2021: Gems, jewellery industry seeks reduction of import duty to 4%
Business

Union Budget 2021: Gems, jewellery industry seeks reduction of import duty to 4%

All India Gem and Jewellery Domestic Council chief Ashish Pethe said the EMI facility should be extended to their industry and to increase the cash purchase limit to Rs 1 lakh from Rs 10,000