Indirect tax collection rose by 25.9% in Sept: FinMin
Till September, 52.5% of the Budget Estimates (BE) of indirect taxes for the current financial year has been achieved, Ministry of Finance said.
As per the Ministry's tweets, the Indirect tax collection (Central Excise, Service Tax and Customs) upto last month shows that net revenue collections are at Rs 4.08 lakh crore which is 25.9% more than the net collections for the corresponding period last year i.e. 2015-2016.
On Central Excise front, the net tax collection stood at Rs 1.83 lakh crore till now in this fiscal (April- September) as compared to Rs 1.25 lakh crore during the corresponding period in the previous financial year, thereby registering a growth of 46.3%, the Ministry added.
Net tax collections on account of Service Tax during April-September, 2016 stood at Rs 1,16,975 crore as compared to Rs 95,780 crore during the corresponding period in the previous fiscal, thus registering a growth of 22.1%.
The net tax collection on account of Customs till now in the current fiscal rose by 4.8% at Rs 1.08 lakh crore as compared to Rs 1.03 lakh crore during the same period last financial year, the Ministry said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
06:42 PM IST