April-Sept indirect tax mop-up rises 44.4%
Indirect tax collections enlarged 44.4 per cent to Rs 1, 50,686 crore in the first half of the current fiscal year from the related period last fiscal. During April-September the total indirect tax collection was 48.1 per cent of the Budget approximates for 2010-11.
The finance ministry declared today that proceeds collections from society improved 66.8 per cent to Rs 63,229 crore during the period. Collections from central excise rose 40.7 per cent to Rs 60,834 crore, while service tax collections verified a 14.8 per cent rise to Rs 26,623 crore.
The government had expected an overall tax clean up of Rs 7, 46,000 crore in the current financial year. In 2010-11, it lay down an indirect tax collection target of Rs 3, 15,000 crore.
In 2009-10, the government had to modify its Budget target for indirect tax receipts to Rs 2, 44,447 crore from Rs 2, 68,000 crore. The revenue department supervised to mop-up about Rs 2,000 crore more at Rs 2,46,000 crore.
Revenue collections have been growing at a similar rate every month from the time when the beginning of this financial year.