Indirect tax revenue surges 37 per cent to Rs 2.1 lakh cr in Apr-Jul

Indirect tax revenue jumped over 37 per cent to over Rs 2.1 lakh crore during April-July period of current financial year, on the back of higher excise collections.

The indirect tax collections were at Rs 1.53 lakh crore during the similar period of the previous fiscal, a finance ministry statement said on Tuesday.

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In July alone, indirect tax collections grew 39.1 per cent from a year ago period to Rs 56,739 crore.

"Indirect tax revenue collections have increased from Rs 40,802 crore in July 2014 to Rs 56,739 crore during July, 2015. Thus an increase of 39.1 per cent has been registered during July-2015 over the corresponding period in the previous year. This is an achievement of 32.6 per cent of the target fixed for BE 2015-16 Rs 64,6267 crore," said the release.

During April-July, the excise collections jumped by 75.4 per cent to Rs 83,454 crore. While revenues from service tax rose by 20.1 per cent to Rs 60,925 crore, and that from customs duty jumped by 21 per cent to Rs 66,076 crore.

Month-wise, in July the central excise collections jumped by 64.8 per cent to Rs 22,273 crore; customs duty rose by 23.2 per cent to Rs 18,996 crore while service tax revenues were up by 30.3 per cent to Rs 15,470 crore, showed the government data.