Tax revenue rises in Feb

NEW DELHI, MAR 5: Indirect tax revenue in February recorded highest monthly collections during the current year signalling revival of Indian industry hit hard by recession.

According to official press note, the collections during Feburary this year at Rs. 8599 crore, were higher by 13.5 per cent over the corresponding period last year. This excise duty collections during the month amounted to Rs 4795 crore, while on the customs duty side mop up was Rs. 3804 crore.Similarly the buoyancy in revenue has been sustained in February in direct taxes with collection totalling Rs 1622 crore in February. The total tax collections during April 1998 to February 1999 were Rs. 1,11,440 crore recording a 7.4 per cent increase over the same period in the previous year.