Indirect Taxes Collection Targets for F.Y. 2016-17 Accomplished by CBEC

Indirect tax collections (Central Excise, Service Tax and Customs) in FY 2016-17 are at Rs 8.63 Lakh Crore, which is 22.0% higher than the actual Revenue Receipts in FY 2015-16; 101.35% of the Revised Estimates (RE) of indirect taxes for Financial Year 2016-17 has been achieved by CBEC

The indirect tax collections (Central Excise, Service Tax and Customs) in FY 2016-17are at Rs 8.63 lakh crore, which is 22.0% higher than the actual revenue receipts in FY 2015-16. Till March 2017, about 101.35% of the Revised Estimates (RE) of indirect taxes for Financial Year 2016-17 has been achieved.

As regards Central Excise, net tax collections stood at Rs. 3.83 lakh crore during FY 2016- 17 as compared to Rs.2.86 lakh crore in the previous Financial Year, thereby registering a growth of 33.9%.

Net Tax collections on account of Service Tax during FY 2016-17 stood at Rs. 2.54 lakh crore as compared to Rs.2.11 lakh crore in the previous Financial Year, thereby registering a growth of 20.2%.

Net Tax collections on account of Customs during FY 2016-17 stood at Rs. 2.26 lakh crore as compared to Rs. 2.10 lakh crore in the previous Financial Year, thereby registering a growth of 7.4%.

CBEC Press Release dt. 4 Apr. 2017

Leave a Reply