OTHERS

Revenue collection up by 26.59 per cent in June

NEW DELHI, JULY 12. Helped by the buoyancy in the inflow of direct taxes, the total tax collections in June amounted to Rs. 16,392.67 crores as compared to Rs. 12,949.79 crores in June 1999, thus recording a growth of 26.59 per cent. On a cumulative basis, total tax collections in the first three months of the current fiscal (April to June) amounted to Rs. 37,496 crores as against Rs. 30,285.94 crores, an increase of 23.81 per cent, according to an official news release here today.

Direct taxes collected by the Government in June amounted to Rs. 6,630.73 crores as against Rs. 4,421.48 crores during the same month last year, showing a growth of nearly 50 per cent. Cumulative collection stood at Rs. 10,712 crores as against Rs. 6,424.81 crores last year, showing an increase of 66.73 per cent.

Income tax collection was Rs. 1,981.53 crores as against Rs. 1,338 crores in June last thus registering a growth of 48 per cent. Cumulative collection of income tax was Rs. 5,950.77 crores as against Rs. 4,011.86 crores, an increase of 48 per cent. Corporation tax collected in June was Rs. 4,610.60 crores as compared to Rs. 3,312.14 crores last year, an increase of 48 per cent. Cumulative collection of corporation tax went up by 75 per cent from Rs. 4,686.39 crores as against Rs. 2,670.64 crores.

Collection of indirect taxes was Rs. 9,761.94 crores which was 14.47 per cent higher than the Rs. 8,528.31 crores in June last year. Cumulative collection stood at Rs. 26,784.01 crores as against Rs. 23,861.13 crores, an increase of 12.25 per cent.

Among indirect taxes, the collection of excise duties in June was Rs. 5,378.51 crores as against Rs. 4,625.51 crores in June last, an increase of 16.28 per cent while the cumulative increase was at a lower 13.32 per cent (Rs. 14,350.43 crores as compared to Rs. 12,663.13 crores). Customs revenue collected in June was Rs. 4,148.23 crores which was 11.27 per cent higher than the Rs. 3,727.98 crores in the same period last year. Total customs revenue collected in this fiscal was Rs. 11,659.35 crores which was 11.16 per cent higher than Rs. 10,488.69 crores during the corresponding period.