New Delhi: Amid slowing economy, indirect tax collections grew by 5 per cent in the April-November period of this fiscal. Total collection of indirect taxes - excise, customs and service tax - stood at about Rs 3,07,568 crore during the first eight months of 2013-14 as against Rs 2,93,145 crore in the year-ago period, sources in the finance ministry said.
Excise collection dropped 5.1 per cent during the period to over Rs 1,03,629 crore, against Rs 1,09,180 crore in the same period in the last fiscal year, reflecting slump in manufacturing activity. Customs mop up was up 7 per cent to Rs 1,11,844 crore during the period, sources said.
Service tax collection, which has become a new focus area for revenue officials, grew by 16 per cent to Rs 92,095 crore during the period. Government has set indirect tax collection target of Rs 5.65 lakh crore for 2013-14, up from Rs 4.73 lakh crore in the last fiscal.
