The Hindu : Business : Indirect tax collections surpass target

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Friday, Apr 18, 2008
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Business

Indirect tax collections surpass target

Special Correspondent

NEW DELHI: The booming collections enabled the Central Government to surpass the revised indirect tax collection targets for 2007-08 with the revenue touching a huge Rs. 2,79,000 crore from customs, excise and service tax.

The Centre had already achieved the direct tax collections of about Rs. 3,12,000 crore for 2007-08, surpassing the revised target of about Rs. 3,05,000 crore and the total tax collections stood at around Rs. 5,91,000 crore for the fiscal.

An upbeat Central Board of Excise and Customs (CBEC) Chairman, P. C. Jha, told newsmen here on Thursday that the Government had crossed the revised estimates of about Rs. 2,79,000 crore indirect tax collections for 2007-08. Total indirect tax collections included customs collections of around Rs. 1,04,000 crore, excise collections of around Rs. 1,25,000 crore and service tax amounting to over Rs. 50,000 crore.

On the budget estimates of about Rs. 3,22,000 crore indirect tax collections for 2008-09, Mr. Jha said: “We are hopeful of achieving the target considering the continuing high growth of the economy”.

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