The government on Monday said it is confident of achieving indirect tax collection target of over 4 lakh crore for the current fiscal despite the slowdown in industrial activities. Chairman Central Board of Excise and Customs (CBEC) S K Goel told reporters on the sidelines of a meet in New Delhi that 7.5 per cent GDP growth should take care of the target.Online GST Certification Course by TaxGuru & MSME- Click here to Join
For the first seven months of the current fiscal, the indirect tax collection has gone up 18.5 per cent to 2.21 lakh crore rupees. It is 55.3 per cent of the Budget estimate for 2011-12.
The indirect tax collection was 1.86 lakh rupees crore in the corresponding period of 2010-11. The government has fixed an indirect taxes collection target of over 4 lakh crore rupees for the Central Board of Excise and Customs (CBEC), compared to. 3.38 lakh rupees crore last fiscal.
Source- Prasar Bharti