Indirect tax collections up 43%

In the current year,indirect tax collections during April-December constitute 75.7 per cent of the overall target of Rs 3.13 lakh crore fixed for 2010-11.

The indirect tax mainly constitutes customs,central excise and service tax.

The Indian economy is already on a recovery path,registering a GDP growth of 8.9 per cent in the first half of the current fiscal.

The revenue collections from customs have increased to Rs 99,830 crore during April-December 2010,which is 68 per cent higher than the previous year’s mop-up of Rs 59,402 crore.

This constitutes 86.8 per cent of the budgeted target of Rs 1.15 lakh crore revenue collection from customs for the whole year 2010-11,the statement said.

The mop-up from central excise rose to Rs 93,281 crore during the period April-December 2010,an increase of 33.7 per cent over the previous year’s collection of Rs 69,747 crore.

Service tax collections registered a growth of 19.2 percent during the nine-month ended December 2010,to Rs 44,081 crore,the statement added