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Service tax collections pick up; Indirect tax mop-up grows by 5.6%

By TIOL News Service

NEW DELHI, NOV 12, 2014: INDIRECT Tax Revenue (Provisional) collections have increased from Rs 2,69,909 crore in April-October 2013 to Rs.2,85,126 crore during April-October 2014. Thus an increase of 5.6 % has been registered during April-October 2014 over the corresponding period in the previous year. This is an overall achievement of 45.7% of the target fixed at BE 2014-15.

Service Tax collections have increased from Rs.81,758 crore in April-October 2013 to Rs. 90,673 crore during April-October 2014 registering an increase of 10.9%. This amounts to an achievement of  42.0 % of the target fixed at BE 2014-15.

Collections from Customs increased from Rs.98,707 crore during April-October 2013 to Rs.1,06,123 crore during April-October 2014 registering an increase of 7.5%. This is an achievement of 52.6% of the target fixed at BE 2014-15


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Sub: Service tax collections pick up

Growth in revenue realization reflets the improving condition of manufacturing sector. it should be converted into proportionate increase in employment opportunities.

Posted by SUNIL AHUJA
 

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