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Collection of indirect tax increased to 4.1 %
Posted on: 26/Sep/2013 1:35:31 PM
According to the finance ministry, the collection of indirect tax from the public has been raised to 4.1 % during the period of April to August 2013. Among the total collections of indirect taxes, the amount of Excise, Customs and Service taxes are Rs.62, 000, Rs.71, 000 and Rs.34, 000 crores respectively. The indirect tax was up by 9% when compared to August month last year’s collections.
To raise the service tax collections, the government has introduced a negative list of taxation whereby the services which are not in the list are taxable. For the next year 2013 - 2014, the Government has targeted the indirect tax collection as Rs 5.65 lakh crore.
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