The Hindu Business Line : April-Feb indirect tax collections up 16.2 pc

The Centre's indirect tax collections surged by 16.2 per cent during April-February 2005-06 to touch Rs 1,71, 071 crore against of Rs 1,47,238 crore recorded in the same period last year.

On the direct taxes front, personal income tax collections for the period under review stood at Rs 47,960 crore (32 per cent increase), corporation tax collections at Rs 70,590 crore (about 28 per cent increase), securities transaction tax at Rs 2,248 crore and banking cash transaction at Rs 269 crore.

While the Budget 2006-07 has pegged the revised estimate for personal income tax at Rs 66,239 crore, the revised estimate for corporation tax for 2006-07 stood at Rs 1,03,573 crore.

As against a revised excise duty estimate of Rs 1,12,000 crore for 2005-06, the Centre has in April-February 2005-06 collected Rs 95,445 crore from this tax. In February 2006, the excise duty collections of the Centre stood at Rs 10,415 crore (Rs 8,795 crore in February 2005)

Finance Ministry officials say that the increase in exports coupled with lesser than expected demand growth in petroleum products had impacted excise duty collections during the current fiscal. Analysts say that achieving the revised estimates on the excise duty front may prove to be a tough call for the revenue department.

On the customs duty front, the Centre has during April-February 2005-06 collected Rs 57,431 crore as against revised estimate of Rs 64,215 crore for 2005-06. In February 2006, the customs duty collection stood at Rs 4,678 crore (Rs 4,867 crore).

According to an official release, service tax collections of the Centre surged by 68.1 per cent during April-February 2005-06 to Rs 18,195 crore (Rs 10,826 crore). In February 2006, the Centre has collected service tax of Rs 1,976 crore (Rs 1,075 crore).

In February 2006, the indirect tax collections of the Centre increased by 15.8 per cent to touch Rs 17,069 crore (Rs 14,737 crore).

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