Tax collection up 18% till Dec

The central government's gross tax collection increased by over 18% to Rs 1,94,231 crore in the first nine months of the current fiscal, mainly due to robust growth in direct tax mop-up.

The gross tax collection improved from Rs 1,64,170 crore between April-December 2003-04 with corporation tax, income tax and customs duties posting double-digit growth during the nine month period, according to the figures collated by the Controller General of Accounts (CGA).

The government has budgeted a net tax mop-up of Rs 2,33,906 crore for this fiscal.

Tax collection in December alone increased 12.5% to Rs 39,365 crore as against Rs 34,985 crore during the corresponding period last fiscal.

Corporation tax receipts increased 30% to Rs 49,697 crore till December 2004 from Rs 38,216 crore till December 2003 - in tune with the improved performance of India Inc.

Income tax collection was up 21% to Rs 31,873 crore in the first nine months of 2004-05.

On the indirect tax front, customs collections rose by about 13.5% to Rs 41,265 crore during the period under review. Excise duty mop up was up 9.5% at Rs 61,837 crore from Rs 56,499 crore in the same period last fiscal.