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Service Tax lends major push to Indirect tax growth of 32.6% in Sept

By TIOL News Service

NEW DELHI, OCT 10, 2015: EVEN though the North Block is worried about a major shortfall in the direct tax revenue, here comes good news from the CBEC. The Service tax mop-up has appreciably picked up from Rs  15,158 crore in September 2014 to Rs 20,483 crore during September 2015 registering an increase of 35.1%. This is an achievement of 45.5% of the target fixed at BE 2015-16.

Central Excise collections have increased from Rs. 13,356 crore in September 2014 to Rs. 22,489 crore during September 2015 thus registering an increase of 68.4%. This is an achievement of 55.0% of the target fixed at BE 2015-16.

Customs collections have increased from Rs.17,710 crore in September 2014 to Rs. 18,312 crore during September 2015 registering an increase of 3.4%. This is an achievement of 49.7% of the target fixed for BE 2015-16.

Overall, Indirect Tax Revenue collections have increased from Rs 46,224 crore in September 2014 to Rs. 61,284 crore during September- 2015. Thus an increase of 32.6% has been registered during September - 2015 over the corresponding period in the previous year. This is an achievement of 50.6% of the target fixed for BE 2015-16.

 

 


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