PRESS RELEASE ON INDIRECT TAX COLLECTIONS DURING THE FINANCIAL YEAR 2016-17

1. The indirect tax collections (Central Excise, Service Tax and Customs) in FY 2016-17are at ₹ 8.63 lakh crore, which is 22.0% higher than the actual revenue receipts in FY 2015-16. Till March 2017, about 101.35% of the Revised Estimates (RE) of indirect taxes for Financial Year 2016-17 has been achieved.

2. As regards Central Excise, net tax collections stood at ₹ 3.83 lakh crore during FY 2016-17 as compared to ₹ 2.86 lakh crore in the previous Financial Year, thereby registering a growth of 33.9%.

3. Net Tax collections on account of Service Tax during FY 2016-17 stood at ₹ 2.54 lakh crore as compared to ₹ 2.11 lakh crore in the previous Financial Year, thereby registering a growth of 20.2%.

4. Net Tax collections on account of Customs during FY 2016-17 stood at ₹ 2.26 lakh crore as compared to ₹ 2.10 lakh crore in the previous Financial Year, thereby registering a growth of 7.4%.

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