The Hindu : Business : Indirect tax collections up

Online edition of India's National Newspaper
Wednesday, Dec 15, 2004

Business

Business

Indirect tax collections up

By Our Special Correspondent

NEW DELHI, DEC. 14. The total revenue collection from indirect taxes up to November was Rs. 1,02,553.25 crores as compared to Rs. 91,790.21 crores during the corresponding period of the preceding financial year. At this level, indirect tax revenue during the first eight months was Rs. 10,763.04 crores more than the corresponding period in the preceding year. In percentage terms, the increase works out to 11.73.

According to an official release, customs duty collections between April and November this year were Rs. 35,720.24 crores against Rs. 31,863.73 crores during the corresponding period in 2003, the increase working out to 12.10 per cent. Excise duty collections during the same period stood at Rs. 59,819.26 crores against Rs. 55,605.40 crores, showing an increase of 7.58 per cent.

With the enlargement of the service tax net and enhanced rate, collections during the first eight months increased by 62.31 per cent as compared to the preceding financial year.

During the first eight months of this financial year, customs duty amounting to Rs. 167.63 crores had been realised from the unscrupulous importers and show cause notices demanding duty of Rs. 745.24 crores had been issued. On the anti-smuggling front, goods valued at Rs. 522.92 crores were seized during April-November 2003.

The release pointed out that anti evasion activities of the Customs and Central Excise Department had been accelerated.

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