Central excise duty collection jumps 50.1% in Q1 of FY2017
Indirect tax collection has registered healthy growth of 30.8% for the first quarter of current fiscal FY2017, as compared to the 36.3% growth in the corresponding period of previous financial year.Once the Additional Resource Mobilization (ARM) is removed, the growth rate in Q1 is 10.2% [Customs: 11.2%, Central Excise: 13.9% & Service Tax: 4.3%].
The details of Indirect tax revenue collections (provisional) in Q1 of FY2017 against Q1 of FY2016, along with growth rate compared with the corresponding period of the previous year is tabulated below as:-
Tax Head BE FY2017 June April-June % of BE achievementFY2016 FY2017 % Growth FY2016 FY2017 % GrowthCustoms 230000 17414 18507 6.3 47450 54808 15.5 23.8Central Excise* 317000 21949 30982 41.2 60787 91225 50.1 28.8Service Tax 231000 16914 18266 8.0 44503 53757 20.8 23.3Total 778000 56277 67755 20.4 152740 199790 30.8 25.7* Exclusive of cess administered by other Departments.Powered by Capital Market - Live News
