Revenue Collections from Indirect Taxes Increases by 42.3% During April - November 2010

Revenue Collections from Indirect Taxes Increases by 42.3% During April – November 2010

Revenue collections from indirect taxes i.e., Customs, Central Excise and Service Tax Revenue (Provisional) for the first eight months i.e., April –November 2010 of the current financial year 2010-11 has increased to Rs. 2,07,756 crore which is 42.3% higher than the collections made during the same period in the previous financial year 2009-10. The previous year’s indirect tax collections were Rs. 1,45,958 crore during the same period. The current year indirect tax collections from April-November 2010 constitute an achievement of 66.3% of the overall target of Rs.3,13,471 crore fixed for 2010-11. 

Revenue collections from customs have increased to Rs. 86,844 crore during April-November 2010 which is 67% higher than the previous year’s collections of Rs. 52,011 crore in the same period. This constitutes an achievement of 75.5% of the target of Rs. 1,15,000 crore for the whole year 2010-11. 

Revenue collections from central excise also increased to Rs. 81,984 crore during the period April-November 2010, an increase of 34.4% over the previous year’s collection of Rs.61,020 crore during the same period. These constitute an achievement of 62.8% of the target of Rs. 1,30,471 crore fixed for the current financial year 2010-11. 

As far as revenue collections from service tax for the period April-November 2010 is concerned, a collection of worth Rs.38,927 crore was made during this period which constitute an increase of 18.2% over the previous year’s collections of Rs.32,927 crore during the same period. The collections made in the first eight months of the current financial year constitute an achievement of 57.2% of the overall target of Rs.68,000 crore fixed for the full financial year 2010-11. 

Overall revenue collections from indirect taxes of Rs.2,07,756 crore during the first eight months (April-November 2010) of the current financial year 2010-11 constitute an achievement of 66.3% of the overall target of Rs.3,13,471 crore fixed for the current financial year 2010-11. Last year’s collections of Rs. 1,45,958 crore during the same period constituted an achievement of 54.5% of the overall target fixed for indirect tax collections for the year 2009-10.