Revenue collections go up 19% in H1

Revenue collections go up 19% in H1

NEW DELHI, Oct 11: Revenue collection during the first six months of the current financial year went up by 19.21 per cent despite poor showing by customs. Realisation from customs during the first half was up by only 5.14 per cent and during the month of September only 2.15 per cent.

According to revenue department, tax collection during April-September 2000 was Rs 82,312.02 crore as against Rs 69,049.15 crore in the corresponding period last year.

The officials in the ministry, however, pointed out that the six-monthly revenue figures reveal that the overall collections were ahead of the growth target. The government had planned 17.3 per cent increase in revenue collections during 2000-01.

As far as direct taxes were concerned, the tax collection was up by 43.32 per cent during the six-month period. On the other hand realisation from indirect taxes remained tardy with both customs and excise not doing very well. The growth in indirect taxes worked out to be 10.37 per cent during April-September 2000.

Total collection of indirect taxes during April-September 2000 was Rs 55,771.25 crore as compared to Rs 50,530.71 crore.

The collection of excise duties upto the end of September 2000 was Rs 30,771.44 crore as compared to Rs 26,972.31 crore during the corresponding period last year, registering a growth of 14.09 per cent. On the customs side, realisation during the six-month period was Rs 23,331.75 crore as compared to Rs 22,191.08 crore during the corresponding period last year. The growth works out to be 5.14 per cent.

In case of direct taxes total collection during April-September 2000 was Rs 26,540.77 crore as against Rs 18,518.44 crore in the corresponding period last year.

The collection of income tax during the six-month period was Rs 12,938.91 crore as compared to Rs 8,925.28 crore during the corresponding period last year, showing an increase of 44.97 per cent. Realisation from corporation tax during the period was Rs 13,450.33 crore as compared to Rs 9,506.36 crore during April-September 1999. The growth works out to be 41.49 per cent.

As far as the month of September was concerned, total revenue realisation worked out to be Rs 21,515.81 crore as compared to Rs 18,710.28 crore during the corresponding month last year, representing an increase of 14.99 per cent.

The collection of income tax during September was Rs 3,657.44 crore as compared to Rs 2,623.55 crore during the corresponding month last year representing an increase of 39.41 per cent. Collection of corporation tax during the month was Rs 7,751.81 crore as compared to the collection of Rs 6,641.77 crore during the corresponding month last year, showing an increase of 16.71 per cent.

Total collection of direct taxes during September was Rs 11,435.24 crore as against Rs 9,557.34 crore during the corresponding month last year showing an increase of 19.65 per cent.

The collection of excise duties during September 2000 was rs 5,750 crore as compared to Rs 4,952.91 crore during the corresponding month last year. The excise collection during the month was up by 16.09 per cent. Collection of customs during the month was Rs 4,128.15 crore as compared to Rs 4,041.11 crore registering an increase of 2.15 per cent.

Total collection of indirect taxes during September 2000 was rs 10,080.57 crore as compared to Rs 9,152.94 crore during the corresponding month last year, representing an increase of 10.13 per cent.