Only 2% Growth In Excise Mop-Up In 4 Mths

Excise duty collection in the first four months (April-July) of the current financial year has recorded a growth of only around 2 per cent over the same period last year.

Excise duty realisation during the period April-July, 2000, was Rs 19,437 crore. Sources said that to enhance excise duty mop-up in the coming months of the current financial year, the Central Board of Excise and Customs (CBEC) has decided to keep a tab on four evasion-prone commodities.

They added that the board was of the view that there was substantial evasion on account of clandestine removals in sectors such as independent textile processors, iron and steel manufactured by the secondary steel sector, cotton yarn and pan masala.

 

Officials said that all the units manufacturing these goods would be covered under physical controls by placing officials outside the manufacturing units.

The system has come into effect from August 16, they added. Excise commissioners have been asked to submit a report in this regard within a fortnight.

The board will review on the basis of their report whether an amendment was required in the rules so as to bring these sectors under physical control, said sources.