The direct tax collections posted a 20.42 per cent growth totalling Rs 36,733 crore (Rs 367.33 billion) upto October 15, but indirect tax collections were less buoyant, recording about eight per cent growth at Rs 63,413 crore (Rs 634.13 billion) upto September 30, this financial year.

Giving the latest direct collections, CBDT chairman P K Singh told reporters in New Delhi that corporate tax recorded a whopping 34.46 per cent growth at Rs 19,920 crore (Rs 199.20 billion) upto October 15 as against Rs 14,814 crore (Rs 148.14 billion) in the corresponding period last year.

Income tax collections were Rs 16,812 crore (Rs 168.12 billion) upto October 15 as against Rs 15,690 crore (Rs 156.90 billion) in the corresponding period of previous year, recording a 7.15 per cent growth.

On the indirect tax front, excise collections up to September 30 grew by 8.55 per cent at Rs 40,321 crore (Rs 403.21 billion) as against Rs 37,147 crore (Rs 371.47 billion) in the same period last year.

Customs collections from April to September were put at Rs 23,192 crore (Rs 231.92 billion) as against Rs 21,344 crore (Rs 213.44 billion) in the first six months of last year, registering a growth of eight per cent.

"We might be able to achieve the customs collections target of Rs 49,350 crore (Rs 493.50 billion) this fiscal but excise target of Rs 96,000 crore (Rs 960 billion) would be difficult unless sizeable improvement in industrial production takes place," CBEC Chairman A K Singh said.