Revenue Collections from Indirect Taxes Increases by 42.3% During April – November 2010

Revenue collections from indirect taxes i.e., Customs, Central Excise and Service Tax Revenue (Provisional) for the first eight months i.e., April -November 2010 of the current financial year 2010-11 has increased to Rs. 2,07,756 crore which is 42.3% higher than the collections made during the same period in the previous financial year 2009-10. The previous year's indirect tax collections were Rs. 1,45,958 crore during the same period. The current year indirect tax collections from April-November 2010 constitute an achievement of 66.3% of the overall target of Rs.3,13,471 crore fixed for 2010-11. 

Revenue collections from customs have increased to Rs. 86,844 crore during April-November 2010 which is 67% higher than the previous year's collections of Rs. 52,011 crore in the same period. This constitutes an achievement of 75.5% of the target of Rs. 1,15,000 crore for the whole year 2010-11. 

Revenue collections from central excise also increased to Rs. 81,984 crore during the period April-November 2010, an increase of 34.4% over the previous year's collection of Rs.61,020 crore during the same period. These constitute an achievement of 62.8% of the target of Rs. 1,30,471 crore fixed for the current financial year 2010-11. 

As far as revenue collections from service tax for the period April-November 2010 is concerned, a collection of worth Rs.38,927 crore was made during this period which constitute an increase of 18.2% over the previous year's collections of Rs.32,927 crore during the same period. The collections made in the first eight months of the current financial year constitute an achievement of 57.2% of the overall target of Rs.68,000 crore fixed for the full financial year 2010-11. 

Overall revenue collections from indirect taxes of Rs.2,07,756 crore during the first eight months (April-November 2010) of the current financial year 2010-11 constitute an achievement of 66.3% of the overall target of Rs.3,13,471 crore fixed for the current financial year 2010-11. Last year's collections of Rs. 1,45,958 crore during the same period constituted an achievement of 54.5% of the overall target fixed for indirect tax collections for the year 2009-10.