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| Indirect tax collection up 15% during Apr-Jan |
| Press Trust of India / New Delhi Feb 08, 2012, 20:41 IST |
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 Indirect tax collection jumped 15% in the April-January period to Rs 3.17 lakh crore and the revenue department has said it hopes to meet the Budget target.
Total collection of indirect taxes -- Customs, Central Excise and Service -- was Rs 2.75 lakh crore in the 10 month period of the previous fiscal.
In the 10 month period, the Central Board of Excise and Customs (CBEC) has been able to achieve nearly 81% of Budget estimate for the current fiscal year.
"At the present rate of growth, CBEC should be able to achieve the target of Rs 3,92,908 crore [for the current fiscal]," the Finance Ministry said in a statement.
The Service Tax collection during the period continued to be strong with a 37% growth to Rs 75,440 crore.
The growth in excise collection is also positive. The excise collection jumped 6.8% to Rs 1.17 lakh crore.
The total mop up from customs duty rose 12.7% to Rs 1.24 lakh crore during the 10 month period.
There have been concerns over the country's economic growth prospects in the wake of high cost of credit coupled with uncertain economic global scenario.
As per official estimates, the economy is expected to grow at 6.9% in the current fiscal, lower from 8.4% in the previous year.
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