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Tax kitty swells 6% till August

New Delhi, Sept. 19 (PTI): Buoyancy in corporate tax and excise helped the tax kitty swell 6.0 per cent to Rs 65,990 crore till August this fiscal from Rs 62,325 crore in the same period in 2002-03.

While indirect taxes grew 7.0 per cent to Rs 51,460 crore till August, direct taxes were up a mere 2.1 per cent at Rs 14,530 crore, finance ministry officials said here today.

Industrial recovery resulted in higher collections in corporate tax and excise.

Excise collection grew 7.02 per cent to Rs 32,597 crore in the first five months from Rs 30,457 crore in April-August 2002-03, the officials said.

Customs mopup also grew by 6.95 per cent to 18,864 crore till August this fiscal, compared with Rs 17,639 crore in the year ago period, they added.

Although gross tax collection was up by over 10 per cent at Rs 85,000 crore till August this fiscal compared with Rs 77,000 crore in the same period last fiscal.

In August, indirect tax collections were at Rs 10,980 crore this year compared with Rs 10,381 crore in the year-ago period.

While excise collection was Rs 7,028 crore, customs mop up was at Rs 3,951 crore last month.

Last fiscal, the Centre collected Rs 1,26,224 crore in indirect taxes excise collection was Rs 81,304 crore and customs was Rs 44,920 crore.

The indirect tax grew within a range of 5.6-9.4 per cent in the first five months of this fiscal. While it peaked in June, the growth was lowest in April.

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