| News | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Home |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Indirect Tax Revenue (Provisional) collections during October 2015 increased by 36.8% as compared with collections made in October 2014; Cumulatively, during April-October 2015, Indirect Tax Collections increased by 35.9% over the collections made during the same period last year suggesting a healthy growth in the underlying tax base |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| 10-11-2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In October 2015, indirect tax revenue (provisional) collections increased by 36.8% compared with collections made in October 2014. Cumulatively, during April-October 2015, indirect tax collections increased by 35.9% over the collections made during the same period last year, while, the target growth rate for 2015-16 is 18.8%. Overall, in monetary terms, the indirect tax revenue (provisional) collections increased to ₹ 3,82,860 crore during April-October 2015 from ₹ 2,81,798 crore during April-October 2014. In the month of October 2015 alone, the collections increased to ₹ 58, 691 crore from ₹ 42, 897 crore in October 2014. Collections on account of Central Excise increased from ₹ 87,588 crore in April-October 2014 to ₹ 1, 47,685 crore in April-October 2015 and thereby registering an increase of 68.6 %. In case of Service Tax, collections increased from ₹ 89,379 crore in April-October 2014 to ₹ 1, 12,727 crore in April-October 2015 and thereby registering an increase of 26.1 %. Collections on account of Customs increased from ₹ 1, 04,831 crore in April-October 2014 to ₹ 1, 22,448 crore in April-October 2015 and thereby registering an increase of 16.8 %. These collections reflect in part increase due to additional measures taken by the Government from time to time, including the excise increases on diesel and petrol, the increase in clean energy cess, the withdrawal of exemptions for motor vehicles, capital goods and consumer durables, and from June 2015, the increase in Service Tax rates from 12.36% to 14%. However, stripped of all these additional measures, indirect tax collections increased by 11.6% during April-October 2015 as compared to April-October 2014. These collections continue to suggest a healthy growth in the underlying tax base. Details of overall Indirect Tax Revenue (provisional) collections during April-October 2015 along with growth rate compared to the corresponding period in the previous year are as follows: Indirect Tax Collection: April- October 2015 (Rs. in crores)
*Exclusive of cess administered by other departments. |
||||||||||||||||||||||||||||||||||||||||||||||||||||
