Indirect tax collection up 13.8 per cent

 Indirect tax collections during the April-June period rose by 13.8 per cent to over Rs 1.07 lakh crore, slower than the targeted 27 per cent growth for entire fiscal.

In the June quarter of current fiscal, the collection from customs rose 12.2 per cent to Rs 38,744 crore. Revenue mop up from excise duty was also up by 29.8 per cent at Rs 41,147 crore. Service tax collection rose by Rs 40.8 per cent to Rs 28,068 crore.

For the month of June, indirect tax collection grew by 14.8 per cent to Rs 37,748 crore. While collections from customs duty stood at Rs 13,284 crore, excise mop up during the month stood at Rs 13,849 crore. Service tax collection was at Rs 10,615 crore.

The Centre has fixed indirect tax collection target at Rs 5.05 lakh crore for the current fiscal, an increase of about 27 per cent from 2011-12 target. The indirect tax mop-up in 2011-12 at Rs 3,92,781 crore was 99.6 per cent of the Budget Estimate. The gross direct tax collections in the April-June period grew by 6.77 per cent to Rs 1.11 lakh crore, less than the targeted annual growth of 15 per cent.

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