Finance Minister Pranab Mukherjee today exuded confidence that the revenue officials will be able to meet indirect tax collection target of 5.05 lakh crore rupees for 2012-13. Congratulating them for having done a good job last year, the Finance Minister hoped it would be possible for them to do their job and realise the revenue target which has been fixed for them. Speaking to reporters after addressing the two day 27th Annual Conference of Chief Commissioners and Directors General of Customs, Central Excise and Service Tax, the Finance Minister said, the government aims at generating about 5.05 lakh crore rupees from central excise, customs and service tax. The indirect tax mop-up in 2011-12 at 3 lakh 92,781 crore rupees was 99.6 per cent of the Budget Estimate.In 2011-12, the government had revised the indirect tax collection target upward after eduction in customs and excise duties on petroleum products following hike in diesel, kerosene and LPG prices in June, 2011. In April, 2012, the indirect tax collection was 33,045 crore rupees, up 10.4 per cent year-on-year.
News On AIR | June 4, 2012 1:01 PM
FinMin: Revenue officials to be able to meet target of Rs. 5.05 lakh cr for 2012-13