Tax Collections Up 17% At Rs 90,648 Crore In Sept

Tax collections increased 17 per cent at Rs 90,647.71 crore in September 2002 compared to Rs 77,479.54 crore in September 2001.

While the indirect tax collection rose to Rs 60,890.97 crore, the direct tax collection went up to Rs 29,756. 74 crore.

The excise revenue grew 18.43 per cent at Rs 37,147.20 crore and Customs 9 per cent at Rs 21,344.07 crore.

Among direct taxes, the corporation tax collection grew 29 per cent at Rs 11,352 crore in September 2002 compared to September 2001, based on the second installment of the advance tax collection.

Thus the direct tax collection rose 26 per cent in September, raising the growth rate for 2002-03 to 21.21 per cent.

However, because of the low import growth, Customs duty grew only 9 per cent during 2002-03.

However, it picked up to 15.78 per cent in September. In absolute terms, Customs collection stood at Rs 3,705 crore in September 2002 against Rs 505.09 crore in September 2001.

The service tax collection rose 21.07 per cent during 2002-03 at Rs 2,399.70 crore compared to Rs 1,982.11 crore in 2001-02.

The collection has, therefore, touched 38.5 per cent of the annual target.