Govt collects 32.28% more tax for Apr-Aug: FM

The govt has collected 32.28% more taxes (excluding service tax and excise duty) at Rs 77,027 cr during the first five months of this fiscal against Rs 54,000 cr in the corresponding period of  the previous fiscal.

While direct taxes grew by 50.30% at Rs 42,917 cr during the April-August, 2006 year-on-year, customs duty among indirect taxes rose by 34.05% to touch Rs 34,110 cr, Finance Minister P Chidambaram said yesterday.

The figures for Union excise duty and service tax are available for the first four months of 2006-07 only. While excise duty collections grew by 8.84% to touch Rs 33,074 cr against Rs 30,387 cr, service tax mop up grew by a whopping 62.70% to touch Rs 8,169 cr against Rs 5,021 cr.

Among direct taxes, corporation tax jumped by 70.37% at Rs 22,587 crore during the first five months of this fiscal against Rs 13,258 cr.Income tax, including fringe benefit tax, securities transaction tax and banking cash transaction tax, rose by 32.91% at Rs 20,330 cr against Rs 15,296 cr, he added.