New Delhi: oblique tax collections jumped 42% in April on sharp upward push in excise collections owing toelevated responsibility on petrol and diesel.
“indirect tax collections for the month of April 2016 changed into Rs.sixty four,394 crore registering a boomof 41.eight% in comparison to Rs.forty five,417 crore accumulated at some stage in the equal lengthprevious 12 months,” an respectable declaration stated.
Excise collections soared 70.7% to Rs.28,252 crore in April as compared to Rs.16,546 crore a year ago.
The government had among November 2015 and January 2016 raised excise obligation on petrol and diesel five times to elevate an additional Rs.17,000 crore in 2015-sixteen fiscal.
The five excise duty hikes totalled Rs.four.02 a litre on petrol and Rs.6.87 according to litre on diesel.
“universal increase in sales collections because of indirect taxes except additional revenue measures is 17%,” the assertion said.
additional revenue measures consist of elevating of excise duty on car fuels. The collections in April areeight.3% of the budgeted goal for the 2016-17 fiscal.
Finance minister Arun Jaitley has pegged oblique tax collections at Rs.7.seventy eight lakh crore in 2016-17, up 9.7% from Rs.7,09,022 crore actual collections of the preceding fiscal.
service tax collections in April rose 28% to Rs.18,647 crore as compared to Rs.14,585 crore inside the yearin the past period.
Customs or import obligation collections were Rs.17,495 crore, 22.five% better than Rs.14,286 croreaccrued in April 2015.