Indirect tax collections in April total Rs.64,000 crore

New Delhi, May 11 (IANS) India’s indirect tax collections for April rose 41 percent to Rs.64,394 crore — mainly on account of a spike in central excise realisations, a finance ministry statement said on Wednesday.

The figure was Rs.45,417 crore in April 2015.

“Central excise collections were Rs.28,252 crore during April 2016, compared with Rs.16,546 crore in the corresponding period the previous year, thus registering an overall growth of 70.7 percent,” the statement said.

Service tax collections grew by 27.9 percent to Rs.18,647 crore in April 2016, as against Rs.14,585 crore in the same month last fiscal.

Overall growth in revenue collections, after discounting for additional revenue mobilisation, is 17 percent.

Customs duty collections grew 22 percent to Rs.17,945 crore in April, as against Rs.14,286 crore in the same month a year ago.

The indirect taxes collection target for the 2016-17 fiscal has been set at Rs. 7,78,000 crore.

Meanwhile, listing the steps taken to curb black money within and outside India, the government on Tuesday said it has uncovered indirect tax evasion of Rs.50,000 crore and undisclosed income of Rs.21,000 crore in the last two years.

“Enhanced enforcement measures have resulted in the unearthing of tax evasion of approximately Rs.50,000 crore of indirect taxes and undisclosed income of Rs.21,000 crore,” the ministry said.

“The value of goods seized on account of smuggling activities has increased to Rs.3,963 crore in the last two years (32 percent increase over corresponding two previous years),” it added.

Leave a Reply