Press Release: Indirect Tax Collection, [April-Octobers 2016-17
Indirect Tax Collections up to October, 2016 show an increase of 26.7% over the net collections for the corresponding period last year.
The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to October 2016 show that net revenue collections are at Rs 4.85 lakh crore which is 26.7% more than the net collections for the corresponding period last year. Till October 2016, 62.4% of the Budget Estimates of indirect taxes for Financial Year 2016-17 has been achieved.
As regards Central Excise, net tax collections stood at Rs.2.14 lakh crore during April-October, 2016 as compared to Rs.1.47 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 45.4%.
Net Tax collections on account of Service Tax during April-October, 2016 stood at Rs. 1.43 lakh crore as compared to Rs.1.12 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 26.9%.
Net Tax collections on account of Customs during April-October 2016 stood at Rs. 1.27 lakh crore as compared to Rs. 1.22 lakh crore during the same period in the previous Financial Year, thereby registering a growth of 4.1%.
