Revenue Collections from Indirect Taxes Increase by 42.4% during April - October 2010

Revenue Collections from Indirect Taxes Increase by 42.4% during April – October 2010

Revenue collections from indirect taxes i.e. Customs, Central Excise and Service Tax has increased by 42.4% at All India level in the first seven months of the current financial year 2010-11 i.e. April - October 2010 over the previous year collections made during the same period i.e. April – October 2009.

Total revenue collections from the indirect taxes at All India Level during April – October 2010 stood at Rs. 1,80,261 crore which is 57.5% of the Budget Estimates (BE) for 2010-11. 

Maximum revenue collections to the tune of Rs. 75, 349 crore have been made from Customs alone during April – October 2010 which is 65.9% higher than the collections made in the previous year during the same period i.e. April – October 2009. 

Revenue collections from Central Excise was to the tune of Rs. 71,078 crore during the period April – October 2010 which is 36.2% higher than the collections made in the corresponding period during the previous year (April – October 2009). 

Revenue collections from Service Tax stood at Rs. 33,833 crore at All India level during April – October 2010 which is 16.9% higher than the collections made in the corresponding period during the previous year (April – October 2009). 

Thus, total revenue collections from indirect taxes i.e. Customs, Central Excise and Service Tax stood at Rs.1,80,261 crore at All India level during April – October 2010 which is 42.4% higher than the collections made from indirect taxes during the corresponding period in the previous year (April – October 2009). Beside, these overall indirect tax collections are 57.5% of BE 2010-11.