April-August time sees rise in tax collection

April-August time sees rise in tax collection During the period between April and August of the current fiscal, there has been a visible surge in the total tax collection. The indirect tax collection alone went up by 45.9 per cent as compared to the last year.

Out of the total collection, customs showed an increase of 66.5 per cent while that for excise receipts was 41.7 per cent.

The rise has been the result of continued increase in the front of excise as well as customs duties.

In real terms, the total collection was at 1,24,170 crore rupees as compared to 85,095 crore rupees that was seen last year. The figures were revealed in a statement from the ministry of finance.

On the same way, the Customs collection stood at 51,866 crore rupees and excise showed the figure of 49,672 crore rupees. During the same period, collection from services taxes went up by 19.8 per cent to touch 22,632 crore rupees.

Indirect collection for these four months stood at 96,223 crore rupees. The good news is that the rise can be simply attributed to economic recovery seen in India. Also, rise in petroleum duty played a major role.