26 June 2017

RSS Feed

Customs, Excise, Service Tax Mop up Rises 49 pc in Apr-May

E-mail Print PDF

Small Enterprise India Information Desk

Industrial buoyancy and higher rates have pushed up the collection of indirect taxes, which include customs, central excise and service tax, by 49 per cent to around Rs 35,000 crore during April-May this fiscal.

"Indirect tax collections have shot up by 49 per cent in April-May," Central Board of Excise and Customs (CBEC) Chairman V Sridhar informed the media on the sidelines of a conference of chief commissioners and director generals of indirect taxes.

The government had collected Rs 23,420 crore from customs, central excise and service tax in April-May last fiscal, according to the data of the Controller General of Accounts.

Besides, increased economic activity, the CBEC chief attributed the higher tax collections to increase in rates of taxes announced in the Budget 2010-11 by Finance Minister Pranab Mukherjee.

Higher collections were witnessed in several sectors like petroleum, chemicals and textiles. The government proposes to increase the collection of indirect taxes by 29 per cent this fiscal.

Courtesy: DD News

  

 

Add comment


Security code
Refresh



Get the Flash Player to see this player.

Follow SEI

Facebook Twitter Linkedin Youtube RSS Feed
Small Enterprise India Newsletters

Ask GURU

Take Our Online PollVoice your opinion
What do you expect from the StartUp India Action Plan?

Stock Market