Indirect tax collections up 5 pct in Apr-Nov

Government has set indirect tax collection target of Rs 5.65 lakh crore for 2013-14

Amid slowing economy,indirect tax collections grew by 5 per cent in the April-November period of this fiscal.

Total collection of indirect taxes – excise,customs and service tax – stood at about Rs 3,07,568 crore during the first eight months of 2013-14 as against Rs 2,93,145 crore in the year-ago period,sources in the finance ministry said.

Excise collection dropped 5.1 per cent during the period to over Rs 1,03,629 crore,against Rs 1,09,180 crore in the same period in the last fiscal year,reflecting slump in manufacturing activity.

Story continues below this ad

Customs mop up was up 7 per cent to Rs 1,11,844 crore during the period,sources said.

Service tax collection,which has become a new focus area for revenue officials,grew by 16 per cent to Rs 92,095 crore during the period.

Government has set indirect tax collection target of Rs 5.65 lakh crore for 2013-14,up from Rs 4.73 lakh crore in the last fiscal.

Congress releases second list for Bihar elections, fields 5 candidates

India4 hr ago

Congress released its second list of candidates for the Bihar Assembly elections, but the Mahagathbandhan is still working on a seat-sharing arrangement for the first phase of polling. The Jharkhand Mukti Morcha (JMM) will contest six seats on its own. The elections will be held in two phases on November 6 and 11, with results on November 14.

View all shorts

Live Blog

PHOTOS