Apr-Dec indirect tax kitty up 43% at Rs 2.37 lakh cr

The indirect tax collections rose by 42.8 per cent to Rs 2.37 lakh crore during April-December this year compared to corresponding period last fiscal, indicating uptick in economic activities.

During the corresponding nine-month period last fiscal, the indirect tax collections were over Rs 1.66 lakh crore, the finance ministry said in a statement.

In the current year, indirect tax collections during April-December constitute 75.7 per cent of the overall target of Rs 3.13 lakh crore fixed for 2010-11.

The indirect tax mainly constitutes customs, central excise and service tax.

The Indian economy is already on a recovery path, registering a GDP growth of 8.9 per cent in the first half of the current fiscal.

 

The revenue collections from customs have increased to Rs 99,830 crore during April-December 2010, which is 68 per cent higher than the previous year's mop-up of Rs 59,402 crore.

This constitutes 86.8 per cent of the budgeted target of Rs 1.15 lakh crore revenue collection from customs for the whole year 2010-11, the statement said.

The mop-up from central excise rose to Rs 93,281 crore during the period April-December 2010, an increase of 33.7 per cent over the previous year's collection of Rs 69,747 crore.

Service tax collections registered a growth of 19.2 per cent during the nine-month ended December 2010, to Rs 44,081 crore, the statement added.