February, 2012 Rises to Rs.3,48,702 Crore; An Increase of 14.6 Percent Over the Corresponding Period of the Previous Financial Year
Indirect tax revenue collections during the month of February, 2012 rose to Rs. 31,469 Crore, an increase of 9.6 percent over the corresponding period of last financial year. Overall indirect tax collections during the period April, 2011 to February, 2012 rose to Rs 3,48,702 Crore. Last year the indirect tax collections during the period was to the tune of Rs 28,705 Crore.
The detailed position of indirect tax revenue collections for and up-to the month of February, 2012 is as follows:
in crore
|
Head |
For February |
% Growth over previous year |
April-February |
% Cumulative Growth over previous year April to Feb. |
||
|
2010-11 |
2011-12 |
2010-11 |
2011-12 |
|||
|
Customs |
11,479 |
12,151 |
5.9% |
121,588 |
136,214 |
12.0% |
|
Central Excise |
12,038 |
12,196 |
1.3% |
122,315 |
129,926 |
6.2% |
|
Service Tax |
5,188 |
7,122 |
37.3% |
60,309 |
82,562 |
36.9% |
|
Total |
28,705 |
31,469 |
9.6% |
304,212 |
348,702 |
14.6% |
The overall growth in indirect tax revenue collection during the month of February, 2012 is around 9.6% which is 2.4% higher than last month position. Further, the progressive growth during April-February of current fiscal year has shown 14.6% over the corresponding period of last financial year.
In this regard the growth in Central Excise revenue for February, 2012 is 1.3% and the overall growth in Central Excise Revenue upto February, 2012 is 6.2% showing a positive trend. The Service Tax revenue continues to be buoyant and has shown 37.3% growth during February, 2012. The Customs growth has been 5.9% during the month of February, 2012, though the growth upto February, 2012 has been 12.0%.
The department has been able to achieve nearly 88.7% of Budget Estimate up-to the month of February, 2012 in the current fiscal year.
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