Indirect tax collections have registered an increase of almost 36 per cent in the first seven months of the current fiscal. Finance Ministry in a release said, the indirect tax revenue collections has increased to 3.82 lakh crore from 2.81 lakh crore rupees during April to October last year. It said, with this, the Ministry has met 59.2 per cent of indirect tax target for the full fiscal.<br/><br/>The government has budgeted to collect over 6.47 lakh crore rupees from indirect taxes in the current fiscal. The indirect tax that includes Central Excise, Customs and service tax.<br/> <br/>The maximum jump was seen in the excise duty collection at 68.6 per cent. The Ministry said, these collections are partly due to additional measures like the excise increases on diesel and petrol, the increase in clean energy cess and the increase in service tax rates to 14 per cent from 12.36 per cent.<br/><br/>
News On AIR | November 10, 2015 8:48 AM
Indirect tax collections grow by 36.8% during Apr-Oct 2015