Indian indirect tax collection surges
27 January 2012
Matthew Gilleard - ITR
Indirect tax collections – comprising customs, central excise and service tax – rose to Rs 2,85,787 crore ($58 billion) during April to December. It is a significant boost to the government ahead of its plans to introduce GST.
The rise was largely because of an increase in service tax collection. For the same period last year, the total indirect tax take was Rs 2,46,168 crore.
The data has given India strong hope that budget targets will now be met.
“We hope we will be able to meet the budget estimates of Rs 3,92,908 crore this fiscal,” said SK Goel, chairman of the Central Board of...
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