Customs, excise duty collection up 9.2 percentJuly 14th, 2008 - 10:09 pm ICT by IANS
New Delhi, July 14 (IANS) India’s customs and central excise revenue collection shot up to Rs.191.25 billion ($4.4 billion) in June this year against Rs.175.06 billion in the year-ago period, up by 9.2 percent. Maintaining an upward trend, the revenue collection from service tax in June this year has been pegged at Rs.36.53 billion against Rs.29.63 billion in the corresponding month last year.
A provisional statement on the tax collection from the ministry of finance Monday said the cumulative customs and central excise tax collection up to June 2008 stood at Rs.543.41 billion against Rs.487.23 billion in the year-ago period.
The break-up of revenue collection from custom duties was estimated to be Rs.92.36 billion and Rs.98.89 billion from excise duties during June this year, registering growth of 13 percent and 5.9 percent respectively.
According to the statement, the cumulative growth rate in customs and central excise tax collection up to June this year was at 11.5 percent, while that in service tax collection was 33.6 percent.
As per the official figures, Rs.97.74 billion was collected as service tax up to June this year against Rs.73.14 billion during the same period last year.