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Indirect tax collection growth shows economy improving

News:

  • Finance Ministry has said that a steady 37 per cent growth in indirect tax collections in four months to July reflects that underlying momentum in the economy is improving.
  • Indirect tax revenue jumped over 37 per cent to over Rs 2.1 lakh crore in April-July of the current fiscal on the back of higher excise duty mop-up.
  • Stripped of all additional revenue measures, indirect tax collections increased by 15.2 per cent in July 2015 over July 2014, and by 14.6 per cent for April-July 2015 compared to the April-July 2014.
  • In April-July, the excise collections jumped 75.4 per cent to Rs 83,454 crore. While revenues from service tax rose 20.1 per cent to Rs 60,925 crore, those from Customs surged 21 per cent to Rs 66,076 crore.

Source: ET

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