Tax Collection Up 23.5% In First Four Months

Tax collection in the first four months of the current financial year registered an impressive growth of 23.50 per cent over the same period last year. This has resulted on account of the continued buoyancy on the direct tax front. According to official monthly revenue figures, tax collection during the period April-July 2000 stood at Rs 49,169.88 crore as against Rs 39,814.51 crore in the same period last year. In the month of July this year, total tax mop-up amounted to Rs 11,577.93 crore (Rs 9,481.21 crore) witnessing a growth of 22.11 per cent. Direct tax contribution in the month stood at Rs 2,154.92 crore""higher by 143.17 per cent from Rs 886.17 crore in July 1999. Income tax collection in July stood at Rs 1,644.76 crore (Rs 1,121.42 crore) which was 46.67 per cent higher than July 1999 collection, while corporate tax realisation at Rs 490.57 crore (-Rs 250.48 crore) was up by 295.85 per cent. Indirect tax realisation in July 2000 was up by 9.63 per cent at Rs 9,423.01 crore (Rs 8,595.04 crore). Excise duty realisation in the month amounted to Rs 5,086.94 crore, which was 8.74 per cent higher than Rs 4,677.95 crore collected in July 1999. Customs realisation last month was Rs 4,095.03 crore""9.39 per cent higher than Rs 3,743.56 crore in July 1999. During the four month period April-July 2000, direct tax collection recorded a growth of 76 per cent at Rs 12,866.97 crore as against Rs 7,310.98 crore in the same period last year. Income tax collection up to July 2000 was up by 47.67 per cent at Rs 7,595.53 crore as compared to Rs 5,133.28 crore last year. Corporate tax grew by 113.91 per cent at Rs 5,176.96 crore (Rs 2,420.16 crore) during the period. Indirect tax realisation in the first four months this year grew by 11.69 per cent at Rs 36,302.91 crore (Rs 32,503.53 crore). Excise duty mop-up during the period was Rs 19,437.37 crore (Rs 17,341.08 crore) showing a growth of 12.09 per cent. Customs duties collection posted 10.69 per cent growth at Rs 15,754.38 crore (Rs 14,232.25 crore) till July 2000.