The revenue collections from Indirect Taxes–Customs duty, Central Excise duty and Service Tax for the month of May, 2012 and up-to the month of May, 2012

The percentage of growth in revenue during May, 2012, after adjustment for deep cuts in duty rate on petroleum and petroleum products made effective from 25th June, 2011, reflects the overall growth of 27.6% over the revenue collection during May, 2011.

The overall growth in indirect tax revenue collection during the month of May, 2012 is about 16.1% which is 5.7% higher than last month’s position. Further, the progressive growth of indirect taxes during April-May of current financial year 2012-13 is 13.3%, and in terms actual amount is Rs. 8256 crore higher than the corresponding period of last financial year.              

The growth in Central Excise revenue for May, 2012 is 16.2% and the overall growth in Central Excise Revenue up to May, 2012 is 17%.  The Service Tax revenue continues to be buoyant and has shown 45.4% growth during May, 2012. The Customs growth is at 3.0% during the month of May, 2012, though the growth in April, 2012 was negative.

The revenue collections from Indirect Taxes–Customs duty, Central Excise duty and Service Tax for the month of May, 2012 and up-to the month of May, 2012 are given in the tabular format as below:

Rs. in crore

 

Head

 

For May

% Growth over previous year 

April-May

% Cumulative Growth over previous year 

 

% Growth after adjustment in May’12**  

2011-12 2012-13 2011-12 2012-13

Customs

13,461

13,866

3.0%

26,175

25,460

(-) 2.7%

16.9%

Central      Excise

12,640

14,693

16.2%

23,338

27,298

17.0%

29.6%

Service Tax

5,918

8,607

45.4%

12,442

17,453

40.3%

45.4%

 

Total

 

32,019

37,166

16.1%

61,955

70,211

13.3%

27.6%

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