The indirect tax collection has increased by 35.8 per cent in the first six months of the current fiscal to 3.24 lakh crore rupees, hitting more than 50 per cent of the annual target.
The indirect tax that includes central excise, customs and service tax -- collection during April-September of the last financial year was Rs. 2.38 lakh crores.
The Finance Ministry said this is an achievement of 50.6 per cent of the target fixed for the 2015-16 Budget estimate.
The maximum jump was seen in the excise duty collection at 69.6 per cent, or Rs.1,25,530 crores. Customs duty collection increased by 17.5 per cent while service tax mop up increased by 24.3 per cent.
The government has budgeted to collect over Rs. 6.47 lakh crores from indirect taxes in the current fiscal, a growth of 18.8 per cent over last fiscal.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app