India’s tax revenue for 2010-11 has shown healthy growth till March 12 this year, which jumped around 26 per cent over the corresponding period and the government was expecting to end the year with similar growth in mop up. The total tax collection till March 12 of the current fiscal has shown a growth of around 26 per cent over 2009-10 and for the year the trend is likely to be maintained, Revenue Secretary Sunil Mitra said here today at CII annual regional meet.
The ministry had revised the estimates of direct and indirect taxes after healthy collection.
“In indirect tax we have already collected 92 per cent and in direct tax collection is 79 per cent of the target,” Mitra said.
The government had revised the target of Rs 3,15,000 crore for indirect tax was to Rs 3,36,000 crore. And, in direct tax collection is 79 per cent of the target till March 12, he said.
The tax collection for the year in customs was 62 per cent, excise 35 per cent and service tax by 21 per cent.
The government is targeting to maintain the growth of tax revenue in the next 2011-12 financial year, he added.
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