Press Information Bureau
Government of India
Ministry of Finance
Indirect tax collection for the 1st quarter of 2016-17 indicates a growth rate of 30.8%
The figures of indirect tax collection for the 1st quarter of current fiscal 2016-17 indicates a growth rate of 30.8% as compared to the 36.3% in the corresponding period of previous financial year. Once the Additional Resource Mobilization(ARM) is removed, the growth rate in Q1 is 10.2%[Customs: 11.2%, Central Excise: 13.9% & Service Tax: 4.3%]. The details of Indirect tax revenue collections(prov.) in Q1, 2016-17 vis-à-vis Q1,2015-16, along with growth rate compared with the corresponding period of the previous year is tabulated below as:-
|Tax Head||BE||June||April-June||% of BE achievement|
|2016-17||2015-16||2016-17||% Growth||2015-16||2016-17||% Growth|
* Exclusive of cess administered by other Departments.
In terms of growth rate for corporation tax and personal income tax, the trend in gross revenue of corporation tax is indicating an increase of 13.5% while that of personal income tax (including STT etc.) a growth of 29.8%. However, after adjusting for refunds, the net growth in corporation tax is at 4.43% while that of personal income tax (including STT etc.) at 48.75% as compared to previous year .This increase is mainly due to large refunds made in the previous year as compared to the current year.