New Delhi: The government on Thursday said it has collected Rs 4.27 lakh crore, or 68.6 percent of budget target for indirect tax, in the April-January period of this fiscal.
The indirect tax revenue collections stood at Rs 3.98 lakh crore in the April-January period of the last fiscal.
"Indirect Tax Revenue (Provisional) collections have increased from Rs 3,98,238 crore in April-January 2014 to Rs 4,27,822 crore during April-January 2015. Thus an increase of 7.4 percent has been registered during April-January 2015 over the corresponding period in the previous year. This is an achievement of 68.6 percent of the target fixed for BE 2014-15," the Finance Ministry said in a statement.
The budget target for indirect tax collections is Rs 6.23 lakh crore.
Giving details, it said January 2015 central excise duty collection stood at Rs 20,755 crore, a jump of 35.4 percent over the corresponding month last year.
Central excise duty collection was at Rs 1.40 lakh crore in April-January of the ongoing fiscal, up 5.3 percent over Rs 1.33 lakh crore in the same period of previous fiscal.
Customs duty mop stood at Rs 16,718 crore in January 2015, up by 1 percent on an annual basis.
Customs duty collection was at Rs 1.55 lakh crore in April-January of the ongoing fiscal, up 8.7 percent over Rs 1.42 lakh crore in the same period of previous fiscal.
Service tax collections grew by 6.3 percent to Rs 13,086 crore in January 2015 compared to Rs 12,309 crore in the same month in 2014.
Service tax collection was at Rs 1.32 lakh crore in April-January of the ongoing fiscal, up 8.3 percent over Rs 1.22 lakh crore in the same period of previous fiscal.
Total indirect tax collection in January 2015 was Rs 50,559 crore, up 14.4 percent from Rs 44,189 crore collected in January 2014.
During April-January period of the ongoing fiscal, the government has met 76.9 percent of the budget target for customs duty collection, 68.3 percent for central excise collection target and 61.3 percent of service tax collection target.
