Excise tax collection up 22 percent in August

By IANS,

New Delhi : India’s excise tax collection in August rose 22.7 percent from the previous month, while customs duty collection improved meagrely from minus 30 percent in July to minus 28 percent last month, a senior government official said here Friday.

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“The industry is showing signs of revival. We hope to meet the target. The excise collection in August is up 22.7 percent compared to last month,” V. Sridhar, chairman of the Central Board of Excise and Customs, told reporters on the sidelines of a function organised by the Confederation of Indian Industry (CII).

The government has fixed its indirect tax collection target at about Rs.2.7 lakh crore for the current fiscal.