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Indirect tax revenue by 37.4% for June 2015

News:

  • The Centre has collected Rs 57,357 crore from indirect taxes in June this year, up 37.4 per cent compared to Rs 43,025 crore a year earlier. This was aided by a 67.4 per cent increase in excise duty collections.
  • Various additional measures played a role in the rise in indirect tax collection, an increase in excise duty on petroleum products , the withdrawal of excise duty exemption on auto and other consumer durables, and an increase in service tax from 12.36 per cent to 14 per cent.
  • For 2015-16, indirect tax revenue has been budgeted at Rs 6.46 lakh crore, which means growth of 19 per cent compared with Rs 5.44 lakh crore in the revised estimate for 2014-15.

Source: BS

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