Indirect Tax Mop-up Tops Target by Rs 4k cr

Published: 03rd April 2015 06:00 AM  |   Last Updated: 03rd April 2015 06:00 AM   |  A+A-

NEW DELHI: The indirect tax collection has surpassed the revised estimates by `4,000 crore to about `5.46 lakh crore for the fiscal ended March 2015, but much below the original budget estimate of `6.24 lakh crore. According to the Finance Ministry, the provisional collections during 2014-15 increased by 9.9 per cent as against the actual collections during 2013-14 which was `4.97 lakh crore.

indirect.JPG“The indirect tax collections for the FY 2014-15 has exceeded the revised estimates target of FY 2014-15 by ` 4,000 crore,” the ministry said. The revised estimate was `82,577 lower than the Budget estimate of `6.24 lakh crore for 2014-15.

Finance Minister, Arun Jaitley had said earlier that the `6.24 lakh crore indirect tax collection target for 2014-15 is challenging.

Indirect tax collection in February stood at `50,464 crore, a 15.9 per cent increase over `43,453 crore in the same month of 2014.

With an aim to widening the service tax net, the government had introduced the concept of negative list of taxation. As per ther list, all services except those in the negative list are taxable.

Both customs duty and services tax collections were muted in February. While services tax mop-up grew 3.5 per cent at `12,646 crore in February against `12,221 crore in the same month last year, customs duty fetched the exchequer `15,695 crore, up only 3. 9 per cent over `15,109 crore.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp