Indirect tax collections in 9 months add up to a mere 60.6% of fiscal year target

Indirect tax revenue collections of the central government rose to Rs377,648 crore during April-December 2014-15 from Rs354,049 crore in April-December 2013-14, showing an year-on-year increase of 6.7 per cent.

This represents an achievement of 60.6 per cent of the target fixed for the financial year 2014-15.

Collections from customs duty increased to Rs1,38,529 crore during April-December 2014-15 from Rs1,26,285 crore during April-December 2013-14, posting an increase of 9.7 per cent in line with higher imports. The target achieved has also been higher at 68.6 per cent of the target fixed for budget year 2014-15.

Service tax collections increased by 8.7 per cent to Rs1,19,400 crore during April-December 2014-15 from Rs1,09,887 crore in April-December 2013-14, achieving 55.3 per cent of the target fixed for budget year 2014-15.

Central excise collections increased to Rs1,19,719 crore during April-December 2014-15, showing an increase of 1.6 per cent from Rs1,17,887 crore in April-December 2013-14. The collections for the first nine months amount to an achievement of 58.3 per cent of the fiscal year target for 2014-15.