Economic slowdown is impacting revenue realisation as the indirect tax collections have shown only a moderate growth of 17 per cent to Rs.2.57 lakh crore in the April-October period as against the annual growth target of 27 per cent.
In the first seven months of the current financial year, indirect tax collections, which include excise, customs and services tax, were Rs.2.57 lakh crore, sources in the Finance Ministry said.
According to them, while excise has yielded Rs.95,000 crore during this period, collection from customs and services tax worked out to be about Rs.92,000 crore and Rs.70,000 crore respectively.
The government in the current fiscal had proposed to collect from customs, excise and services tax Rs.5.05 lakh crore, an increase of 27 per cent over realisation in the previous fiscal. The target for customs collection for 2012-13 was fixed at Rs.1.87 lakh crore, for excise Rs.1.93 lakh crore and for service tax Rs.1.24 lakh crore. — PTI
