Revenue collections stand at Rs 153980 crore rising from Rs 112094 crore
The overall growth in Indirect Tax Revenue (Provisional) collections galloped 37.4% to Rs 153980 crore in April-June 2015 over Rs 112094 crore in April-June 2014. In June 2015, the indirect tax collections increased 33.3% compared with June 2014.These increases were spread across all three-tax categories - customs, central excise, and service tax. These collections reflect in part additional measures taken, including the excise increases on diesel and petrol, the increase in clean energy cess, the withdrawal of exemptions for motor vehicles and consumer durables, and in June, the increase in service tax from 12.36% to 14%.
Excluding the impact of additional measures, indirect tax collections increased 10.8% in June 2015 over June 2014 and 14.5% in April-June 2015. These collections indicate that the underlying momentum in the economy is improving, across all sectors, including manufacturing, reflected in healthy excise tax collections.
The growth in underlying indirect tax collections of 14.5% suggests a healthy increase in nominal GDP growth, which constitutes the tax base for indirect tax collections.
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Actual 2014-15
BE 2015-16
BE Growth 2015-16
For June
April to June
2014-15
2015-16
% Growth
2014-15
2015-16
% Growth
Customs
187856
208336
10.9
14081
17094
21.4
39175
47080
20.2
Excise
188238
228157
21.2
13574
22717
67.4
34067
61661
81
Service tax
168063
209774
24.8
15370
17546
14.2
38852
45239
16.4
Total
544157
646267
18.8
43025
57357
33.3
112094
153980
37.4
Source: Ministry of Finance
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