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Indirect tax mop up grows 41% to Rs 64,394 cr in April

Indirect tax mop up grows 41% to Rs 64,394 cr in April

Indirect tax collections witnessed an increase of 41 percent to Rs 64,394 crore mainly on the account of spurt in central excise realisation.

Revenue Secretary Hasmukh Adhia said excise duty mop up in April spurt by 70 percent to Rs 28,252 crore as against Rs 16,546 crore in the year-ago month.

“Provisional revenue figures for indirect tax for April 2016 are Rs 64,394 crore, a 41 percent growth over April 2015 of Rs 45,417 crore,” Adhia tweeted.

He further said that after discounting for the additional resource mobilisation measures taken in the Budget, the growth in indirect tax collection was 17 percent in April.

As regards collection of customs duty, Adhia said there was 22 percent increase to Rs 17,945 crore in April, as against Rs 14,286 crore in the same month a year ago.

Besides, service tax collections grew by 27 percent to Rs 18,647 crore in April 2016, as against Rs 14,585 crore in the same month last fiscal.

Mop up through indirect tax, which includes customs, excise duties and service tax, is budgeted at over Rs 7.79 lakh crore in the current fiscal.