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Tax collection up 11% in H1
October 21, 2003 20:02 IST
Tax collections were up by 11 per cent at Rs 96,547 crore (Rs 965.47 billion) in the first half of this fiscal as against Rs 87,232 crore (Rs 872.32 billion) during April-September 2002.
While Direct Tax mop up grew by 15.9 per cent to Rs 33,314 crore (Rs 333.14 billion), Indirect Tax collection was up by 8.11 per cent at Rs 63,233 crore (Rs 632.33 billion), a top finance ministry official told PTI in New Delhi on Tuesday.
Higher corporate earnings and industrial revival pushed up corporate tax and excise collections in the first half of this fiscal.
Excise collection increased by 8.22 per cent to Rs 40,202 crore (Rs 402.02 billion) during the first half from Rs 37,147 crore (Rs 371.47 billion) during April-September 2002, the official said.
During September alone, Excise mop up was at Rs 7,606 crore (Rs 76.06 billion). Government targets to raise Rs 91,141 crore (Rs 911.41 billion) from excise in this fiscal.
Customs collection were up by 7.9 per cent to Rs 23,030 crore (Rs 230.30 billion) during the first half of 2003-04, as against Rs 21,344 crore (Rs 213.44 billion) in April-September 2002.
During September, customs collection were at Rs 4,166 crore (Rs 41.66 billion). The Centre has estimated Rs 45,193 crore (Rs 451.93 billion) from customs during the entire fiscal.
Government has budgeted Rs 1,36,334 crore (Rs 1,363.34 billion) from Indirect Tax collection during this fiscal.