Date:17/03/2008 URL: http://www.thehindubusinessline.com/2008/03/17/stories/2008031751240300.htm

Back Centre on course to meet indirect tax mop-up target

K.R. Srivats

New Delhi, March 16 The Centre’s indirect tax collections have touched Rs 2,21,376 crore upto end-January this fiscal. This represents almost 80 per cent of the Budget estimate of Rs 2,78,013 crore for indirect taxes in 2007-08.

Official sources said that service tax collections up to end-January this fiscal stood at Rs 39,559 crore, which is also about 80 per cent of the Budget estimate of Rs 50,200 crore.

In April-January 2008, the Centre’s excise duty collections stood at Rs 97,559 crore (Budget estimate of Rs 1,29,043 crore) and customs duty collections were Rs 84,258 crore (Budget estimate of Rs 98,770 crore).

Direct taxes

Meanwhile, in direct taxes, personal income tax collections have touched Rs 93,112 crore during April-February 2008, which is almost 95 per cent of the Budget estimate of Rs 98,774 crore for the current fiscal.

Corporate tax collections for the period April-February 2008 stood at Rs 1,39,241 crore, which is about 83 per cent of the Budget estimate of Rs 1,68,401 crore for 2007-08.